What is 'Procure-to-Pay (Non-Stock)' in SAP SRD-SRM - SRM-Supplier Relationship Management?

Procure-to-Pay (Non-Stock) - Overview

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: A scenario that enables a company to purchase materials that are required for consumption rather than to be held on stock. Employees can request products required by other employees or project members. Employee requests may need to be sent for managerial approval.

Procure-to-Pay (Non-Stock) - Details

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  Key Concepts: 
  Procure-to-Pay (Non-Stock) is a process in SAP SRM (Supplier Relationship Management) that enables organizations to purchase goods and services from external suppliers. It involves the entire process of procurement, from the initial request for a quote to the final payment to the supplier. The process is designed to ensure that all purchases are made in accordance with the organization's policies and procedures.
  
  How to use it: 
  The Procure-to-Pay (Non-Stock) process in SAP SRM begins with a request for a quote from an external supplier. Once the quote is received, it is reviewed and approved by the organization's procurement team. Once approved, the order is placed with the supplier and the goods or services are delivered. The organization then pays the supplier for the goods or services received.
  
  Tips & Tricks: 
  When using Procure-to-Pay (Non-Stock) in SAP SRM, it is important to ensure that all quotes are reviewed and approved by the appropriate personnel before placing an order. Additionally, it is important to ensure that all payments are made on time to avoid any delays in receiving goods or services.
  
  Related Information: 
  Procure-to-Pay (Non-Stock) is just one of many processes available in SAP SRM. Other processes include Requisitioning, Contract Management, and Supplier Evaluation & Performance Management. Additionally, SAP SRM also offers tools for managing supplier relationships, such as Supplier Portal and Supplier Collaboration Platform.