What is procurement type in SAP XAP-CQM - Cost and Quotation Management (SAP xCQM)?

SAP Term: procurement type

• Component: XAP-CQM

• Component Name: Cost and Quotation Management (SAP xCQM)

• Description: A classification indicating how a material is acquired.

Smart SAP Assistant

• Key Concepts: 
  Procurement type is a feature of SAP xCQM that allows users to define the type of procurement they are dealing with. This includes the type of goods or services being procured, the supplier, and the payment terms. It also allows users to define the cost and quotation management process for each procurement type. 
  
  How to use it: 
  In SAP xCQM, users can create a procurement type by selecting the “Create Procurement Type” option from the main menu. This will open a form where users can enter the details of the procurement type, such as the type of goods or services being procured, the supplier, and the payment terms. Once all of the details have been entered, users can save the procurement type and it will be available for use in future procurements. 
  
  Tips & Tricks: 
  When creating a procurement type in SAP xCQM, it is important to ensure that all of the details are accurate and up-to-date. This will help ensure that all future procurements are handled correctly and efficiently. Additionally, it is important to keep track of all procurement types that have been created in order to ensure that they are used correctly in future procurements. 
  
  Related Information: 
  For more information on how to use SAP xCQM’s procurement type feature, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed tutorials on how to use this feature.