What is contract in SAP LO-CMM - Commodity Management in Logistics?

SAP Term: contract

• Component: LO-CMM

• Component Name: Commodity Management in Logistics

• Description: Commodity Management in Logistik An agreement between two legal parties regarding the terms and conditions for subsequent contract release orders in a certain timeframe. In Commodity Management, contracts include the following: Quantity contract in SD Contract in MM Precontract in GTM against which subsequent trading contracts or trading orders - used as release orders - can be created Trading contract TC in GTM which is set up to create a quantity contract in SD and/or an outline agreement in MM

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• Key Concepts: 
  A contract in SAP LO-CMM Commodity Management is an agreement between two or more parties that outlines the terms and conditions of a transaction. It is used to define the rights and obligations of each party involved in the transaction. Contracts can be used to purchase, sell, or exchange goods and services. 
  
  How to use it: 
  In SAP LO-CMM Commodity Management, contracts are created in the system by entering the relevant information such as the parties involved, the terms of the agreement, and any other relevant details. Once created, contracts can be monitored and managed in the system. 
  
  Tips & Tricks: 
  When creating a contract in SAP LO-CMM Commodity Management, it is important to ensure that all relevant information is entered accurately and completely. This will help to ensure that all parties involved are aware of their rights and obligations under the agreement. 
  
  Related Information: 
  For more information on contracts in SAP LO-CMM Commodity Management, please refer to the official SAP documentation.