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

SAP Term: restricted request for quote

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A request for quote that is only accessible to explicitly invited bidders.

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• Key Concepts: 
  A restricted request for quote (RFQ) is a type of procurement process used in SAP SRM (Supplier Relationship Management) that allows buyers to solicit quotes from a limited number of suppliers. The buyer can specify the criteria for selecting the suppliers, such as price, quality, and delivery time. The buyer can also specify the terms and conditions of the RFQ, such as payment terms and delivery dates. 
  
  How to use it: 
  In SAP SRM, buyers can create a restricted RFQ by selecting the “Create RFQ” option in the AP-RFQ SRM RFQ Processing component. The buyer will then enter the details of the RFQ, such as the description of the goods or services being requested, the quantity required, and any other relevant information. The buyer can then select the suppliers to whom they want to send the RFQ. Once all of the details have been entered, the buyer can submit the RFQ to the selected suppliers. 
  
  Tips & Tricks: 
  When creating a restricted RFQ in SAP SRM, it is important to ensure that all of the details are accurate and complete. This will help to ensure that all of the suppliers receive an accurate and complete RFQ. It is also important to ensure that all of the terms and conditions are clearly stated in order to avoid any misunderstandings between buyers and suppliers. 
  
  Related Information: 
  For more information about restricted RFQs in SAP SRM, please refer to SAP’s official documentation on AP-RFQ SRM RFQ Processing. Additionally, there are many online resources available that provide detailed information about how to use this component in SAP SRM.