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

SAP Term: Manage Supplier Quotations

• Component: MM-PUR-SRC

• Component Name: Product Sourcing

• Description: An app that is used to display the supplier quotations that have been submitted for published sourcing projects. It can also be used to create quotations and specify the terms and conditions for the delivery of the requested materials or services on behalf of suppliers.

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• Key Concepts: 
  Manage Supplier Quotations is a component of the SAP MM-PUR-SRC Product Sourcing module. It enables users to manage supplier quotations and compare them to determine the best supplier for a particular product or service. This component also allows users to create and manage contracts with suppliers, as well as track and monitor supplier performance. 
  
  How to use it: 
  To use Manage Supplier Quotations, users must first create a quotation request in the system. This request will include details such as the product or service being requested, the quantity needed, and any other relevant information. Once the request is created, it can be sent to multiple suppliers for their quotations. The user can then compare the quotations and select the best one based on criteria such as price, quality, delivery time, etc. Once a supplier is selected, a contract can be created and managed in the system. 
  
  Tips & Tricks: 
  When creating a quotation request, it is important to provide as much detail as possible so that suppliers can provide accurate quotations. Additionally, it is important to set realistic deadlines for suppliers to respond with their quotations so that the user can make an informed decision in a timely manner. 
  
  Related Information: 
  Manage Supplier Quotations is part of the SAP MM-PUR-SRC Product Sourcing module which also includes components such as Manage Supplier Contracts and Monitor Supplier Performance. These components enable users to manage contracts with suppliers and track their performance over time.