What is Sourcing application in SAP (SRM-EBP - Enterprise Buyer)?

SAP Term: Sourcing application

• Component: SRM-EBP

• Component Name: Enterprise Buyer

• Description: A collection of components that enables an organization to perform business processes to find sources of supply for required products. Using the sourcing application, you can perform a variety of processes for example, strategic sourcing with live auction or strategic sourcing using RFx, to find viable sources of supply that can provide the products required.

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• Key Concepts: 
  SAP SRM-EBP Enterprise Buyer Professional (SRM-EBP) is a sourcing application that enables companies to manage their procurement processes. It provides a comprehensive suite of tools for managing the entire procurement process, from creating and managing purchase orders to tracking and analyzing supplier performance. SRM-EBP also provides a range of features for managing supplier relationships, such as supplier evaluation and selection, contract management, and supplier performance monitoring. 
  
  How to use it: 
  SRM-EBP can be used to create and manage purchase orders, track and analyze supplier performance, and manage supplier relationships. It also provides features for evaluating suppliers, negotiating contracts, and monitoring supplier performance. Additionally, SRM-EBP can be used to generate reports on procurement activities and analyze the data to identify areas of improvement. 
  
  Tips & Tricks: 
  When using SRM-EBP, it is important to ensure that all data is accurate and up-to-date. This will help ensure that the procurement process runs smoothly and efficiently. Additionally, it is important to regularly review supplier performance data in order to identify areas of improvement. 
  
  Related Information: 
  For more information on SAP SRM-EBP Enterprise Buyer Professional, please visit the SAP website at https://www.sap.com/products/srm-ebp.html. Additionally, there are a number of online resources available that provide detailed information on how to use SRM-EBP effectively.