What is exceeded request for quotation in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: exceeded request for quotation

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A request for quotation where the submission deadline has already passed.

Smart SAP Assistant

• Key Concepts: 
  Exceeded Request for Quotation (ERFQ) is a feature in SAP SRM-Sourcing and Contracting that allows buyers to request quotations from multiple vendors for a single item or service. The ERFQ process allows buyers to compare the different quotations and select the best one. 
  
  How to use it: 
  To use the ERFQ feature, buyers must first create a request for quotation (RFQ) in SAP SRM-Sourcing and Contracting. The RFQ should include all the necessary information about the item or service being requested, such as quantity, delivery date, and payment terms. Once the RFQ is created, buyers can then send it out to multiple vendors. The vendors will then submit their quotations, which can be compared by the buyer. The buyer can then select the best quotation and proceed with the purchase. 
  
  Tips & Tricks: 
  When creating an ERFQ, it is important to provide as much detail as possible about the item or service being requested. This will help ensure that vendors are able to provide accurate quotations. Additionally, buyers should ensure that they are requesting quotations from multiple vendors in order to get the best deal. 
  
  Related Information: 
  For more information on using ERFQ in SAP SRM-Sourcing and Contracting, please refer to the SAP Help Portal at https://help.sap.com/viewer/product/SRM/7.0/en-US