What is Renegotiating Purchasing Contracts in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: Renegotiating Purchasing Contracts

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A process that enables the purchasing department to renegotiate expiring contracts.

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• Key Concepts: 
  Renegotiating Purchasing Contracts in SAP is a process that allows buyers and suppliers to modify existing contracts. This process can be used to update the terms of an existing contract, such as changing the price, delivery date, or quantity of goods. It can also be used to add new items to an existing contract. 
  
  How to use it: 
  In SAP SRM-Sourcing and Contracting, buyers and suppliers can renegotiate purchasing contracts by accessing the “Contracts” tab in the SRM-Sourcing and Contracting module. From there, they can select the contract they wish to modify and click on the “Renegotiate” button. This will open a window where they can enter the new terms of the contract. Once all changes have been made, they can click “Save” to finalize the renegotiation process. 
  
  Tips & Tricks: 
  When renegotiating purchasing contracts in SAP SRM-Sourcing and Contracting, it is important to ensure that all changes are accurately entered into the system. This will help ensure that both parties are aware of any changes that have been made and that all terms of the contract are up-to-date. 
  
  Related Information: 
  For more information on renegotiating purchasing contracts in SAP SRM-Sourcing and Contracting, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SRM/7.0/en-US/f9f8d3a2b6c14e8f9a7d3c2b5f9e4d1a.html