Unlock AI-Powered SAP Support – Free for 7 Days! Try It Now

Close
  1. SAP Glossary
  2. SRM-Sourcing and Contracting
  3. Sourcing


What is Sourcing in SAP (SRD-SRM-SC - SRM-Sourcing and Contracting)?


SAP Term: Sourcing

  • Component: SRD-SRM-SC

  • Component Name: SRM-Sourcing and Contracting

  • Description: A business area that allows a company to plan and determine its long-term purchasing activities. Sourcing uses RFQ and contract management processes to achieve long-term cost savings and improved service levels among chosen suppliers.


Smart SAP Assistant

  • Key Concepts: 
    Sourcing is the process of selecting suppliers and negotiating contracts for goods and services. It is a key component of SAP SRM-Sourcing and Contracting (SRD-SRM-SC). It involves identifying potential suppliers, evaluating their capabilities, negotiating terms and conditions, and selecting the most suitable supplier. 
    
    How to use it: 
    SAP SRM-Sourcing and Contracting (SRD-SRM-SC) provides a comprehensive set of tools to manage the sourcing process. It enables users to create and manage requests for quotations (RFQs), evaluate supplier responses, negotiate terms and conditions, and select the most suitable supplier. It also provides tools to manage contracts, monitor supplier performance, and analyze sourcing data. 
    
    Tips & Tricks: 
    When sourcing goods or services, it is important to consider the total cost of ownership (TCO). This includes not only the purchase price but also other costs such as delivery, installation, maintenance, and disposal. It is also important to consider the quality of the goods or services being sourced. 
    
    Related Information: 
    For more information on SAP SRM-Sourcing and Contracting (SRD-SRM-SC), please visit the SAP website at https://www.sap.com/products/srm-sourcing-contracting.html.
    Artificial intelligence solution provided by tomco.ai.
    Disclaimer
    • Do you have any question about this SAP term?


      Upgrade now to chat with this SAP term.

Instant HelpGet instant SAP help. Start your 7-day free trial now.


Feature Free Access Free Trial
Basic SAP Glossary term explanation SAP Glossary Explanation SAP Glossary Explanation 2
Step-by-Step Usage Guide Step-by-Step Step-by-Step 2
Interactive SAP Coach Assistance Interactive SAP Interactive SAP 2
AI Troubleshooting for T-Code Errors AI Troubleshooting AI Troubleshooting 2

Related SAP Glossary Terms

Click the links below to see the following related SAP glossary terms:
Rating
ERPlingo simplifies finding the accurate answers to SAP message errors. I now use every week. A must have tool for anyone working with SAP! Highly recommended!
Rate 1
Kent Bettisworth
Executive SAP Consultant