What is submission deadline in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: submission deadline

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: The date and time when a request for quote ends or until which RFI responses must be submitted for a request for information.

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• Key Concepts: 
  Submission deadline is a term used in SAP SRM RFQ Processing. It is the date and time by which all responses to a Request for Quotation (RFQ) must be submitted. The submission deadline is set by the buyer and is typically included in the RFQ document. 
  
  How to use it: 
  In SAP SRM RFQ Processing, the submission deadline is set by the buyer when creating an RFQ. The buyer can specify the date and time for the submission deadline, which will be included in the RFQ document. All responses to the RFQ must be submitted before this deadline in order to be considered. 
  
  Tips & Tricks: 
  When setting a submission deadline, it is important to consider how much time suppliers need to prepare their responses. If the deadline is too short, suppliers may not have enough time to submit their responses, resulting in fewer bids and potentially lower quality bids. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to the SAP Help Portal: https://help.sap.com/viewer/product/SRM/7.5/en-US