What is bid accepted in SAP SRM-EBP-BID - RFx?

SAP Term: bid accepted

• Component: SRM-EBP-BID

• Component Name: RFx

• Description: One of several possible statuses for a bid. The bid receives this status once the purchaser chooses to accept that particular bid as a winning bid. Several different bids may be accepted for one bid invitation. Other bid statuses include: Held Submitted Rejected Returned

Smart SAP Assistant

• Key Concepts: 
  Bid accepted is a term used in SAP SRM-EBP-BID RFx. It refers to the status of a bid that has been accepted by the buyer. This means that the buyer has chosen to accept the bid and enter into a contract with the supplier. 
  
  How to use it: 
  In order to use this term, the buyer must first create a request for quotation (RFQ) and send it out to potential suppliers. The suppliers will then submit bids in response to the RFQ. The buyer can then review the bids and decide which one they would like to accept. Once they have chosen a bid, they can set its status to “bid accepted”. 
  
  Tips & Tricks: 
  When reviewing bids, it is important to consider not only price but also quality and delivery time. It is also important to ensure that all of the terms and conditions of the contract are acceptable before setting the status of the bid to “bid accepted”. 
  
  Related Information: 
  For more information on SAP SRM-EBP-BID RFx, please refer to the SAP Help Portal or contact your local SAP representative.