What is operational contract in SAP SRM-EBP-CON - Contract Management?

SAP Term: operational contract

• Component: SRM-EBP-CON

• Component Name: Contract Management

• Description: A vehicle to execute the legal contract. The operational contract contains structured information optimized for execution of the legal contract.

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• Key Concepts: 
  Operational contracts are agreements between a company and its suppliers that define the terms of the relationship. They are used to manage the procurement process, including pricing, delivery, payment, and other conditions. The SAP SRM-EBP-CON Contract Management component is used to create, manage, and monitor operational contracts. 
  
  How to use it: 
  The SAP SRM-EBP-CON Contract Management component allows users to create and manage operational contracts. It provides tools for creating and managing contract documents, setting up pricing and payment terms, tracking delivery dates, and monitoring contract performance. It also provides reporting capabilities to help users analyze contract performance. 
  
  Tips & Tricks: 
  When creating an operational contract, it is important to ensure that all relevant information is included in the document. This includes pricing terms, payment terms, delivery dates, and any other conditions that may be applicable. Additionally, it is important to review the contract regularly to ensure that all terms are being met. 
  
  Related Information: 
  For more information on SAP SRM-EBP-CON Contract Management, please visit the SAP Help Portal at https://help.sap.com/viewer/product/SRM_EBP_CON/7.0/en-US.