What is consignment PO in SAP SAP-LEGAL - Global Field Legal?

SAP Term: consignment PO

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: Any electronic purchase order for consignment materials.

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• Key Concepts: 
  A consignment PO is a purchase order created in SAP-LEGAL Global Field Legal that allows a company to purchase goods from a vendor without having to pay for them upfront. The vendor will store the goods at their own facility and the company will only pay for the goods when they are used or sold. This type of purchase order is beneficial for companies that need to purchase large quantities of goods but don’t have the funds to pay for them upfront. 
  
  How to use it: 
  To create a consignment PO in SAP-LEGAL Global Field Legal, first select the “Create Purchase Order” option from the menu. Then, select “Consignment PO” from the list of available purchase orders. Enter the details of the vendor and the goods you wish to purchase, and then submit the PO. Once it is approved, you will be able to access the goods from the vendor’s facility without having to pay for them upfront. 
  
  Tips & Tricks: 
  When creating a consignment PO, make sure to include all relevant details such as quantity, price, delivery date, and payment terms. This will ensure that both parties are clear on what is expected and avoid any misunderstandings down the line. Additionally, it is important to keep track of all consignment POs in order to ensure that payments are made on time and that all goods are accounted for. 
  
  Related Information: 
  Consignment POs are just one type of purchase order available in SAP-LEGAL Global Field Legal. Other types of POs include standard POs, blanket POs, and framework POs. Each type of PO has its own advantages and disadvantages, so it is important to understand which type best suits your needs before creating one.