What is public request for quote in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: public request for quote

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A request for quote that has been published to a publically accessible portal.

Smart SAP Assistant

• Key Concepts: 
  Public Request for Quote (RFQ) is a component of SAP SRM (Supplier Relationship Management) that allows companies to solicit bids from suppliers for goods and services. It enables companies to create and manage RFQs, compare bids, and select the best supplier. 
  
  How to use it: 
  To use the Public Request for Quote component of SAP SRM, companies must first create an RFQ document. This document should include all relevant information about the goods or services being requested, such as quantity, delivery date, and payment terms. Once the RFQ is created, it can be sent to potential suppliers. Suppliers can then submit bids in response to the RFQ. Companies can then compare the bids and select the best supplier. 
  
  Tips & Tricks: 
  When creating an RFQ document, it is important to include all relevant information so that suppliers can accurately respond with their bids. Additionally, it is important to provide a clear timeline for when bids must be submitted in order to ensure that all suppliers have an equal opportunity to respond. 
  
  Related Information: 
  For more information on using the Public Request for Quote component of SAP SRM, please refer to the SAP Help Portal or contact your local SAP representative.