What is in negotiation in SAP SRM - Supplier Relationship Management?

SAP Term: in negotiation

• Component: SRM

• Component Name: Supplier Relationship Management

• Description: Status assumed by a held and not previously released contract when it is transferred to SAP Bidding Engine using "Create Bid Invitation".

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• Key Concepts: 
  In negotiation is a term used in SAP Supplier Relationship Management (SRM) to describe the process of negotiating with suppliers. This process involves setting up a negotiation process, defining the terms of the negotiation, and then negotiating with the supplier to reach an agreement. The goal of this process is to ensure that both parties are satisfied with the outcome of the negotiation.
  
  How to use it: 
  In order to use in negotiation in SRM, you must first set up a negotiation process. This involves defining the terms of the negotiation, such as the duration of the negotiation, the type of goods or services being negotiated, and any other relevant details. Once this is done, you can then begin negotiating with the supplier. During this process, both parties should strive to reach an agreement that is beneficial for both sides.
  
  Tips & Tricks: 
  When negotiating with suppliers, it is important to be clear and concise about your expectations and goals. It is also important to be flexible and open to compromise in order to reach an agreement that is beneficial for both parties. Additionally, it is important to keep track of all negotiations and agreements in order to ensure that all parties are held accountable for their commitments.
  
  Related Information: 
  In addition to in negotiation, there are other terms used in SRM such as contract management, supplier performance management, and supplier risk management. These terms are all related to managing relationships with suppliers and ensuring that both parties are satisfied with the outcome of their negotiations.