What is Request for Quotation Types in SAP MM-PUR - Purchasing?

SAP Term: Request for Quotation Types

• Component: MM-PUR

• Component Name: Purchasing

• Description: An app that displays RFQs that have been created in the system by type together with the total numbers and the corresponding target amounts. Examples of RFQ types are Internal Sourcing Request and External Price Request.

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• Key Concepts: 
  Request for Quotation (RFQ) Types are used in the Purchasing component of SAP to define the type of request for quotation that is being sent out. This helps to ensure that the right information is collected from vendors and that the process is efficient. RFQ Types can be used to differentiate between different types of requests, such as requests for quotations for goods or services, or requests for quotations for specific items. 
  
  How to use it: 
  In order to use RFQ Types, you must first create a new RFQ Type in the Purchasing component of SAP. This can be done by navigating to the “Define Request for Quotation Types” screen and entering the necessary information. Once the RFQ Type has been created, it can then be used when creating a new request for quotation. 
  
  Tips & Tricks: 
  When creating an RFQ Type, it is important to ensure that all of the necessary information is entered correctly. This includes the description of the type, as well as any additional information that may be required. Additionally, it is important to ensure that the correct pricing and payment terms are selected when creating an RFQ Type. 
  
  Related Information: 
  For more information on how to use RFQ Types in SAP, please refer to the official SAP documentation on Purchasing. Additionally, there are many online resources available that provide detailed instructions on how to use RFQ Types in SAP.