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

SAP Term: negotiation status

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A status indicating the negotiation stage of a contract, for example, In Negotiation or Negotiation Canceled.

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• Key Concepts: 
  Negotiation status is a feature of SAP SRM-Sourcing and Contracting that allows users to track the progress of negotiations with suppliers. It provides an overview of the current status of negotiations, including the number of offers received, the number of offers accepted, and the number of offers rejected. It also allows users to set up alerts for when certain milestones are reached in the negotiation process. 
  
  How to use it: 
  To use negotiation status, users must first create a negotiation document in SAP SRM-Sourcing and Contracting. This document will contain all the relevant information about the negotiation, such as the supplier, the items being negotiated, and any special terms or conditions. Once this document is created, users can then set up alerts for when certain milestones are reached in the negotiation process. They can also view the current status of negotiations at any time by accessing the negotiation status report. 
  
  Tips & Tricks: 
  When setting up alerts for negotiation status, it is important to ensure that they are set up correctly so that users are notified when certain milestones are reached. Additionally, it is important to regularly check the negotiation status report to ensure that negotiations are progressing as expected. 
  
  Related Information: 
  For more information on how to use negotiation status in SAP SRM-Sourcing and Contracting, please refer to SAP Help documentation or contact your local SAP support team.