What is SAP Product Sourcing in SAP (BV-SRM - Brand Voice - Supplier Relationship Management)?

SAP Term: SAP Product Sourcing

• Component: BV-SRM

• Component Name: Brand Voice - Supplier Relationship Management

• Description: A cloud solution that provides a range of product sourcing functionalities, allowing quicker time to market and reduced material costs.

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• Key Concepts: 
  SAP Product Sourcing is a component of the BV-SRM Brand Voice - Supplier Relationship Management suite. It is a tool that helps organizations to source products from suppliers in an efficient and cost-effective manner. It enables organizations to manage their supplier relationships, negotiate contracts, and track product sourcing activities. 
  
  How to use it: 
  SAP Product Sourcing can be used to streamline the product sourcing process. It allows organizations to identify potential suppliers, compare quotes, and negotiate contracts. It also provides visibility into the product sourcing process, allowing organizations to track progress and ensure that all requirements are met. 
  
  Tips & Tricks: 
  When using SAP Product Sourcing, it is important to ensure that all requirements are clearly defined and communicated to suppliers. This will help ensure that the best possible deal is negotiated and that all requirements are met. Additionally, it is important to keep track of supplier performance and ensure that any issues are addressed promptly. 
  
  Related Information: 
  SAP Product Sourcing is part of the BV-SRM Brand Voice - Supplier Relationship Management suite. Other components of this suite include SAP Supplier Relationship Management (SRM), SAP Supplier Performance Management (SPM), and SAP Supplier Collaboration (SC). These tools can be used in conjunction with SAP Product Sourcing to further streamline the product sourcing process.