What is project in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: project

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A strategic sourcing effort that organizes multiple sourcing events and ensures consistent buying discipline.

Smart SAP Assistant

• Key Concepts: 
  Projects in LOD-ESO Sourcing OnDemand are used to manage the sourcing process for a specific set of goods or services. Projects are created by buyers and contain all the information needed to source the goods or services, including the scope of the project, the timeline, and the budget. Projects can be used to manage multiple sourcing events, such as Request for Proposals (RFPs), Request for Quotes (RFQs), and Reverse Auctions. 
  
  How to Use It: 
  To create a project in LOD-ESO Sourcing OnDemand, buyers must first define the scope of the project, including the goods or services to be sourced, the timeline, and the budget. Once this information is entered, buyers can create a project and invite suppliers to participate. Buyers can then use the project to manage all aspects of the sourcing process, including issuing RFPs, RFQs, and Reverse Auctions. 
  
  Tips & Tricks: 
  When creating a project in LOD-ESO Sourcing OnDemand, it is important to provide as much detail as possible about the goods or services being sourced. This will help ensure that suppliers have all the information they need to submit competitive bids. Additionally, buyers should ensure that they have sufficient time to review bids before making a decision. 
  
  Related Information: 
  For more information on projects in LOD-ESO Sourcing OnDemand, please refer to SAP’s official documentation at https://help.sap.com/viewer/product/LOD_ESO_SOURCING_ONDEMAND/Cloud/en-US.