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

SAP Term: vendor

• Component: XAP-CQM

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

• Description: The party that manufactures a certain material or component. The vendor is a business partner from whom materials or services can be procured.

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• Key Concepts: 
  A vendor in SAP xCQM is a third-party supplier or service provider that provides goods or services to an organization. Vendors are typically used to purchase materials, supplies, and services from external sources. Vendors can also be used to provide services such as consulting, training, and maintenance. 
  
  How to use it: 
  In SAP xCQM, vendors can be managed through the Vendor Master Data application. This application allows users to create and maintain vendor records, including contact information, payment terms, and other relevant data. Vendors can also be assigned to specific cost centers or projects for tracking purposes. 
  
  Tips & Tricks: 
  When creating a new vendor record in SAP xCQM, it is important to ensure that all relevant information is included. This includes contact information, payment terms, and any other relevant data that may be required for the vendor’s services. Additionally, it is important to ensure that the vendor is assigned to the correct cost center or project for tracking purposes. 
  
  Related Information: 
  For more information on managing vendors in SAP xCQM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_xCQM/latest/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html