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

SAP Term: request for quotation

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A document that a buyer uses to request binding pricing information and conditions from selected suppliers about required products.

Smart SAP Assistant

• Key Concepts: 
  Request for Quotation (RFQ) is a feature of SAP SRM-Sourcing and Contracting that allows buyers to solicit quotations from suppliers. It is used to obtain the best price and terms for goods or services. The RFQ process involves creating a request, sending it to suppliers, and then evaluating the responses. 
  
  How to use it: 
  To create an RFQ in SAP SRM-Sourcing and Contracting, the buyer must first define the scope of the request. This includes specifying the goods or services required, the quantity, delivery date, payment terms, and any other relevant information. The buyer then sends the RFQ to suppliers via email or other communication channels. Once the responses are received, they can be evaluated based on criteria such as price, quality, delivery time, and other factors. 
  
  Tips & Tricks: 
  When creating an RFQ in SAP SRM-Sourcing and Contracting, it is important to provide as much detail as possible about the goods or services required. This will help ensure that suppliers are able to provide accurate quotes. Additionally, it is important to set a reasonable deadline for responses so that suppliers have enough time to prepare their quotes. 
  
  Related Information: 
  For more information about using Request for Quotation 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/f9f8d3a2b6c14e8a9f3d7c2b5f9e4d1a.html