What is submission deadline in SAP MM-PUR-SRC - Product Sourcing?

SAP Term: submission deadline

• Component: MM-PUR-SRC

• Component Name: Product Sourcing

• Description: A date and time by which suppliers are allowed to submit their quotations.

Smart SAP Assistant

• Key Concepts: 
  Submission deadline is a term used in the SAP MM-PUR-SRC Product Sourcing component. It is the date by which a vendor must submit their bid for a product or service. This date is set by the buyer and is used to ensure that all vendors have an equal opportunity to submit their bids. 
  
  How to use it: 
  When creating a product sourcing request, the buyer will set a submission deadline. This deadline should be clearly communicated to all vendors who are invited to submit bids. Vendors must submit their bids before the submission deadline in order for them to be considered. 
  
  Tips & Tricks: 
  It is important to set realistic submission deadlines that give vendors enough time to prepare their bids. If the deadline is too short, vendors may not have enough time to properly evaluate the request and submit an accurate bid. 
  
  Related Information: 
  The submission deadline is just one part of the product sourcing process. Other important steps include evaluating bids, selecting a vendor, and negotiating terms and conditions.