What is RFx response in SAP (SRM-EBP-BID - RFx)?

SAP Term: RFx response

• Component: SRM-EBP-BID

• Component Name: RFx

• Description: A response to an in which a bidder offers to sell goods or services at a certain price. responses can be subject to complex pricing and conditions.

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• Key Concepts: 
  RFx response is a component of SAP Supplier Relationship Management (SRM) that enables buyers to respond to requests for quotations (RFx) from suppliers. It allows buyers to create and manage responses to RFx documents, including pricing, delivery terms, and other conditions. The RFx response component also allows buyers to compare different responses from suppliers and select the best one. 
  
  How to use it: 
  To use the RFx response component, buyers must first create an RFx document in SRM. This document will include all the information that suppliers need to respond to the request. Once the RFx document is created, buyers can send it out to suppliers and wait for their responses. When the responses are received, buyers can use the RFx response component to compare them and select the best one. 
  
  Tips & Tricks: 
  When creating an RFx document, it is important to include all relevant information so that suppliers can provide accurate responses. Additionally, buyers should ensure that they have enough time for suppliers to respond before making a decision. 
  
  Related Information: 
  The RFx response component is part of SAP SRM and is closely related to other components such as sourcing and contract management. It is also related to other SAP products such as Ariba and SAP Cloud for Customer (C4C).