What is RFQ Processing at Customer in SAP (AP-XCR - CRM Customer Relationship Management)?

SAP Term: RFQ Processing at Customer

• Component: AP-XCR

• Component Name: CRM Customer Relationship Management

• Description: The processing of requests for quotes and supplier quotes for strategic as well as operational negotiation purposes at customer.

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• Key Concepts: 
  RFQ Processing at Customer is a component of SAP Customer Relationship Management (CRM) that enables customers to submit requests for quotations (RFQs) to suppliers. The component allows customers to create, manage, and track RFQs, as well as receive and compare supplier quotes. It also provides customers with the ability to select the best quote and place orders with the chosen supplier. 
  
  How to Use It: 
  To use RFQ Processing at Customer, customers must first create an RFQ by entering the required information such as product details, quantity, delivery date, and payment terms. Once the RFQ is created, it can be sent to suppliers for quotes. Suppliers can then submit their quotes in response to the RFQ. Customers can then compare the quotes and select the best one. Finally, customers can place orders with the chosen supplier. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to provide as much detail as possible so that suppliers can provide accurate quotes. Additionally, it is important to set a reasonable deadline for suppliers to submit their quotes so that customers can make a timely decision. 
  
  Related Information: 
  RFQ Processing at Customer is part of SAP CRM's suite of customer relationship management tools. Other components of SAP CRM include Lead Management, Opportunity Management, and Service Request Management.