What is RFQ for Purchase Order in SAP (SRD-SRM-SC - SRM-Sourcing and Contracting)?

SAP Term: RFQ for Purchase Order

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: An RFQ type that indicates that an RFQ was created to create a purchase order, that is, to find a source of supply for a purchase request.

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• Key Concepts: 
  RFQ stands for Request for Quotation. It is a document sent by a buyer to suppliers to request a quote for goods or services. The RFQ includes the details of the goods or services required, the quantity, and the delivery date. The supplier then responds with a quote that includes the price, delivery date, and other relevant information. 
  
  How to use it: 
  In SAP SRM-Sourcing and Contracting, an RFQ is used to create a purchase order. The buyer creates an RFQ and sends it to the supplier. The supplier then responds with a quote that includes the price, delivery date, and other relevant information. Once the buyer has accepted the quote, they can create a purchase order based on the information provided in the RFQ. 
  
  Tips & Tricks: 
  When creating an RFQ, make sure to include all relevant information such as quantity, delivery date, and payment terms. This will ensure that the supplier can provide an accurate quote and that the purchase order is created correctly. 
  
  Related Information: 
  For more information on creating an RFQ in SAP SRM-Sourcing and Contracting, please refer to SAP Help documentation.