What is approved supplier in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: approved supplier

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A status allowing the supplier to participate in sourcing events. Only approved suppliers appear in the supplier list for a sourcing event.

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• Key Concepts: 
  An approved supplier is a vendor that has been pre-approved by an organization to provide goods or services. This approval is based on the supplier's ability to meet certain criteria, such as quality, cost, and delivery. In SAP LOD-ESO Sourcing OnDemand, an approved supplier is a vendor that has been pre-approved by the organization to provide goods or services for a specific sourcing event. 
  
  How to use it: 
  In SAP LOD-ESO Sourcing OnDemand, an approved supplier can be added to a sourcing event by selecting the “Add Supplier” option from the “Suppliers” tab. Once added, the supplier will be able to participate in the sourcing event and submit bids. The organization can then review the bids and select the approved supplier that best meets their criteria. 
  
  Tips & Tricks: 
  When selecting an approved supplier for a sourcing event, it is important to consider factors such as quality, cost, and delivery time. Additionally, it is important to ensure that the approved supplier is able to meet all of the organization’s requirements for the sourcing event. 
  
  Related Information: 
  For more information on approved suppliers in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation here: https://help.sap.com/viewer/product/LOD_ESO_SOURCING_ONDEMAND/Cloud/en-US