What is duty in SAP SRD-SRM - SRM-Supplier Relationship Management?

SAP Term: duty

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: A tax imposed by a government or customs authority on the import, export, or use of products. The duty is based on a number of factors, such as value, weight, or quantity of the product.

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• Key Concepts: 
  Duty is a term used in SAP Supplier Relationship Management (SRM) to refer to the obligations of a supplier to provide goods or services to a customer. It is an agreement between the two parties that outlines the terms and conditions of the relationship. The duty can be either contractual or non-contractual, depending on the type of agreement between the two parties.
  
  How to Use It: 
  In SAP SRM, duties are managed through the Duty Management module. This module allows users to create, manage, and monitor duties for suppliers. It also provides tools for tracking and managing supplier performance. The module also allows users to set up alerts for when duties are due or overdue.
  
  Tips & Tricks: 
  When setting up duties in SAP SRM, it is important to ensure that all relevant information is included in the agreement. This includes details such as payment terms, delivery dates, and any other conditions that must be met by the supplier. Additionally, it is important to keep track of any changes that may occur during the course of the agreement.
  
  Related Information: 
  For more information on SAP SRM Duty Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this module effectively.