What is award in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: award

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: To determine that a supplier quote is a winning quote. Depending on the settings in the request for quote, the awarding can lead to the creation of follow-up documents, for example, purchase orders.

Smart SAP Assistant

• Key Concepts: 
  An award in SAP SRM-Sourcing and Contracting is a document that is created when a supplier is selected to fulfill a sourcing request. It is used to record the details of the agreement between the buyer and the supplier, such as the terms and conditions, pricing, delivery dates, and payment terms. 
  
  How to use it: 
  In order to create an award in SAP SRM-Sourcing and Contracting, the buyer must first create a sourcing request. Once the request has been created, the buyer can then select a supplier to fulfill the request. Once the supplier has been selected, an award document can be created that records all of the details of the agreement between the buyer and supplier. 
  
  Tips & Tricks: 
  When creating an award in SAP SRM-Sourcing and Contracting, it is important to ensure that all of the details of the agreement are accurately recorded. This includes any special terms or conditions that may have been negotiated between the buyer and supplier. Additionally, it is important to ensure that all of the pricing information is accurate and up-to-date. 
  
  Related Information: 
  For more information on awards in SAP SRM-Sourcing and Contracting, please refer to SAP Help documentation at https://help.sap.com/viewer/product/SRM_SOURCING_AND_CONTRACTING/7.5/en-US