What is vendor contract in SAP MM-PUR - Purchasing?

SAP Term: vendor contract

• Component: MM-PUR

• Component Name: Purchasing

• Description: An outline purchase agreement with a vendor, fulfilled through the issue of release orders referencing the contract. A vendor contract can have one or more items and is based either on the value of the goods or services value contract or the quantity quantity contract.

Smart SAP Assistant

• Key Concepts: 
  A vendor contract in SAP is an agreement between a vendor and a company that outlines the terms and conditions of a purchase. It includes details such as the price, delivery date, payment terms, and any other relevant information. The vendor contract is created in the MM-PUR Purchasing component of SAP. 
  
  How to use it: 
  To create a vendor contract in SAP, you must first create a purchase order. Once the purchase order is created, you can then create a vendor contract by selecting the “Create Vendor Contract” option from the menu. You will then be prompted to enter the details of the contract, such as the price, delivery date, payment terms, and any other relevant information. Once all of the details have been entered, you can save the vendor contract. 
  
  Tips & Tricks: 
  When creating a vendor contract in SAP, it is important to ensure that all of the details are accurate and up-to-date. This will help to ensure that there are no misunderstandings or disputes between the vendor and the company. Additionally, it is important to review any existing contracts before creating a new one to ensure that there are no conflicts or discrepancies. 
  
  Related Information: 
  For more information on creating vendor contracts in SAP, please refer to the official SAP documentation on MM-PUR Purchasing. Additionally, there are many online resources available that provide step-by-step instructions on how to create vendor contracts in SAP.