What is RFQ Processing with Strategic Purchasing Project Integration in SAP (AP-RFQ - SRM RFQ Processing)?

SAP Term: RFQ Processing with Strategic Purchasing Project Integration

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: The processing of requests for quotes and supplier quotes with the assignment of requests for quote to strategic sourcing projects.

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• Key Concepts: 
  RFQ Processing with Strategic Purchasing Project Integration is a component of SAP SRM (Supplier Relationship Management) that enables organizations to manage their strategic purchasing projects. It allows users to create and manage requests for quotations (RFQs) and to track the progress of the project from start to finish. The component also provides tools for analyzing the responses received from suppliers and making decisions on which supplier to select. 
  
  How to use it: 
  To use RFQ Processing with Strategic Purchasing Project Integration, users must first create an RFQ in SAP SRM. This can be done by entering the details of the project, such as the type of goods or services required, the quantity, and any other relevant information. Once the RFQ is created, it can be sent out to suppliers who can then respond with their quotations. The responses can then be analyzed and compared to determine which supplier is best suited for the project. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to provide as much detail as possible so that suppliers can provide accurate quotations. Additionally, it is important to set a timeline for when responses are due so that the project can stay on track. Finally, it is important to review all responses carefully before making a decision on which supplier to select. 
  
  Related Information: 
  For more information on RFQ Processing with Strategic Purchasing Project Integration, please refer to SAP’s official documentation at https://help.sap.com/viewer/product/SRM/7.5/en-US/f9f8d3a2b6c14e8a9f7d3e2b3c9f8d3a.html