What is Manage Negotiations in SAP MM-PUR-SRC - Product Sourcing?

SAP Term: Manage Negotiations

• Component: MM-PUR-SRC

• Component Name: Product Sourcing

• Description: An app that is used by sourcing managers to negotiate with suppliers on the quotations submitted by them for a sourcing project. Negotiations can be created based on criteria such as price or quantity of the materials and/or services being sourced.

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• Key Concepts: 
  Manage Negotiations is a component of the SAP MM-PUR-SRC Product Sourcing module. It enables users to create and manage negotiations with suppliers for the purchase of goods and services. This includes setting up negotiation strategies, negotiating terms and conditions, and managing the negotiation process. 
  
  How to use it: 
  To use Manage Negotiations, users must first create a negotiation strategy. This includes defining the negotiation type, setting up the negotiation process, and defining the criteria for evaluating supplier responses. Once the strategy is set up, users can then initiate negotiations with suppliers. During the negotiation process, users can track progress and review supplier responses. Once negotiations are complete, users can then select a winning supplier and finalize the purchase order. 
  
  Tips & Tricks: 
  When creating a negotiation strategy, it is important to consider all relevant factors such as price, quality, delivery time, payment terms, etc. Additionally, it is important to ensure that all suppliers are treated fairly and given equal opportunity to participate in the negotiation process. 
  
  Related Information: 
  For more information on Manage Negotiations in SAP MM-PUR-SRC Product Sourcing, please refer to the official SAP documentation at https://help.sap.com/viewer/product/MM_PUR_SRC/latest/en-US/f8d7f9a3e2b14c8a9f3d7c6b2e5f9a1d.html