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

SAP Term: contract ID

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: An alphanumeric identifier assigned to a contract.

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• Key Concepts: 
  A Contract ID is a unique identifier assigned to a contract in SAP SRM-Sourcing and Contracting. It is used to track and manage the contract throughout its lifecycle. The Contract ID is generated automatically when a contract is created and can be used to quickly locate the contract in the system. 
  
  How to use it: 
  The Contract ID can be used to search for a contract in SAP SRM-Sourcing and Contracting. It can also be used to quickly access the details of the contract, such as the terms and conditions, pricing, and other relevant information. 
  
  Tips & Tricks: 
  It is important to keep track of the Contract ID for each contract in order to easily access it in the future. It is also important to ensure that the Contract ID is unique for each contract, as duplicate IDs can cause confusion and errors. 
  
  Related Information: 
  The Contract ID is closely related to other identifiers in SAP SRM-Sourcing and Contracting, such as the Purchase Order Number (PON) and Request for Quotation (RFQ) number. These identifiers are all used to track and manage contracts throughout their lifecycle.