What is supplier quote preparation status in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: supplier quote preparation status

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A status variable containing information about the following status variables: Submission status Closure status Approval status Supplier quote awarding status It indicates whether the buyer or bidder is currently allowed to edit a supplier quote.

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• Key Concepts: 
  Supplier quote preparation status is a component of SAP's AP-RFQ SRM RFQ Processing. It is used to track the progress of a supplier's quote preparation process. This includes tracking the status of the quote, such as whether it has been received, accepted, or rejected. It also allows users to view the details of the quote, such as the supplier's contact information and any additional notes. 
  
  How to use it: 
  To use supplier quote preparation status, users must first create a request for quotation (RFQ) in SAP. This can be done by entering the details of the RFQ, such as the item description and quantity, into SAP. Once the RFQ is created, users can then send it to suppliers for them to prepare a quote. The supplier quote preparation status will then be updated as each supplier responds with their quote. 
  
  Tips & Tricks: 
  When creating an RFQ in SAP, it is important to include all relevant information so that suppliers can accurately prepare their quotes. This includes providing detailed descriptions of the items being requested and any special requirements that need to be met. Additionally, it is important to provide clear instructions on how suppliers should submit their quotes and any deadlines that need to be met. 
  
  Related Information: 
  For more information on SAP's AP-RFQ SRM RFQ Processing, please refer to SAP's official documentation at https://help.sap.com/viewer/product/AP_RFQ_SRM_RFQ_PROCESSING/7.5/en-US.