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

SAP Term: negotiate

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: To mutually discuss and agree to the terms of a contract or order.

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• Key Concepts: 
  Negotiate is a term used in SAP Supplier Relationship Management (SRM) to refer to the process of discussing and agreeing on terms and conditions with a supplier. This process includes setting up contracts, negotiating prices, and agreeing on delivery dates. It is an important part of the SRM process as it helps ensure that the supplier is providing the best possible service and products at the best possible price.
  
  How to use it: 
  In order to negotiate with a supplier, you must first create a contract in SAP SRM. This contract will outline the terms and conditions of the agreement between you and the supplier. Once the contract is created, you can then begin negotiating with the supplier. This includes discussing prices, delivery dates, and any other terms that need to be agreed upon. Once all parties have agreed on the terms, the contract can be finalized and signed.
  
  Tips & Tricks: 
  When negotiating with a supplier, it is important to be clear about what you are looking for and what you are willing to accept. Make sure that all parties understand the terms of the agreement before signing off on it. Additionally, it is important to keep track of all negotiations so that any changes or updates can be easily tracked.
  
  Related Information: 
  For more information on how to use SAP SRM for negotiating with suppliers, please refer to SAP's official documentation on Supplier Relationship Management. Additionally, there are many online resources available that provide tips and tricks for successful negotiations with suppliers.