What is tendering in SAP SRM-EBP-BID - RFx?

SAP Term: tendering

• Component: SRM-EBP-BID

• Component Name: RFx

• Description: Process that allows suppliers to compete for a contract or order. Purchasing organizations send out prequalification questionnaires to evaluate which suppliers are best suited to submit responses for an . The prequalification information provided by the suppliers is evaluated by a council. As a result, selected suppliers are invited to provide their responses.

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• Key Concepts: 
  Tendering is a process used in SAP SRM-EBP-BID RFx to solicit bids from suppliers for goods and services. It involves creating a request for quotation (RFQ) that outlines the requirements of the goods or services needed, and then inviting suppliers to submit bids. The bids are then evaluated and the best bid is chosen. 
  
  How to use it: 
  In order to use tendering in SAP SRM-EBP-BID RFx, you must first create an RFQ. This can be done by entering the details of the goods or services needed, such as quantity, delivery date, and payment terms. Once the RFQ is created, it can be sent out to potential suppliers. The suppliers can then submit their bids, which can be evaluated and compared against each other. The best bid can then be chosen and the supplier awarded the contract. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to include all relevant information so that suppliers can accurately submit their bids. Additionally, it is important to set a deadline for when bids must be submitted in order to ensure that all potential suppliers have an equal chance of submitting their bids. 
  
  Related Information: 
  For more information on tendering in SAP SRM-EBP-BID RFx, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SRM_EBP_BID_RFx/7.0/en-US