What is 'internal procurement' in SAP SRD-SRM - SRM-Supplier Relationship Management?

internal procurement - Overview

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: The purchasing of products from a source of supply inside an enterprise, for example, through stock transfer.

internal procurement - Details

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  Key Concepts: 
  Internal procurement is the process of purchasing goods and services from internal sources within an organization. It is a part of the SAP SRM-Supplier Relationship Management (SRM) module, which helps organizations manage their supplier relationships and procurement processes. 
  
  How to use it: 
  The SRM module enables organizations to streamline their internal procurement processes by automating the purchase order process, tracking supplier performance, and managing supplier contracts. It also provides tools for analyzing supplier performance and managing supplier relationships. 
  
  Tips & Tricks: 
  When using the SRM module for internal procurement, it is important to ensure that all suppliers are properly vetted and that all purchase orders are accurate and up-to-date. Additionally, it is important to monitor supplier performance and ensure that all contracts are properly managed. 
  
  Related Information: 
  The SRM module can also be used for external procurement, which involves purchasing goods and services from external sources outside of the organization. Additionally, the SRM module can be used to manage supplier relationships, track supplier performance, and analyze supplier data.