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

SAP Term: expiry status

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A status that indicates that the Valid To date of a contract is either nearing indicating that the contract is about to expire or has already passed indicating that the contract has expired.

Smart SAP Assistant

• Key Concepts: 
  Expiry status is a feature in SAP SRM-Sourcing and Contracting that allows users to set a specific date for when a contract will expire. This feature is useful for keeping track of contracts and ensuring that they are renewed or terminated on time. 
  
  How to use it: 
  To use the expiry status feature, users must first create a contract in SAP SRM-Sourcing and Contracting. Once the contract is created, users can set an expiry date by selecting the “Expiry Status” option from the menu. From there, users can enter the desired date and save the changes. 
  
  Tips & Tricks: 
  It is important to remember to set an expiry date for each contract in order to ensure that it is renewed or terminated on time. Additionally, users should be sure to check the expiry status of their contracts regularly to ensure that they are up-to-date. 
  
  Related Information: 
  For more information about using the expiry status feature in SAP SRM-Sourcing and Contracting, please refer to the official SAP documentation.