What is 'spot purchase' in SAP LO-AGR-APP - Application and Call Off?

spot purchase - Overview

• Component: LO-AGR-APP

• Component Name: Application and Call Off

• Description: A transaction in which the firm receives a commodity from a counterparty but does not have a relevant existing purchase contract with the counterparty to which the receipt must be applied. This process requires a commodity contract to be generated that matches the conditions of the received goods.

spot purchase - Details

• 
  Key Concepts: 
  Spot purchase is a type of procurement process in SAP that allows for the purchase of goods or services on an ad-hoc basis. This type of purchase is often used when a company needs to quickly acquire goods or services without going through the normal procurement process. The LO-AGR-APP Application and Call Off component in SAP allows for the management of spot purchases. 
  
  How to use it: 
  In order to use the LO-AGR-APP Application and Call Off component, a user must first create a spot purchase order. This can be done by entering the necessary information into the system, such as the vendor, item, quantity, and price. Once the order is created, it can be approved and sent to the vendor for fulfillment. The vendor will then deliver the goods or services to the company and an invoice will be generated. 
  
  Tips & Tricks: 
  When creating a spot purchase order, it is important to ensure that all of the necessary information is entered correctly. This includes the vendor, item, quantity, and price. Additionally, it is important to make sure that all of the terms and conditions are agreed upon before sending the order to the vendor. 
  
  Related Information: 
  The LO-AGR-APP Application and Call Off component in SAP also allows for other types of procurement processes such as blanket orders and framework agreements. Additionally,