When you’re ready to release it, click Release. Click Save, and note Contract # created (86 in this case). Enter Product ID, target qty, target value (qty*cost/unit), and cost per unit.Ĭlick ‘check’ to see if there are any errors. Go to Sourcing and Contracting, Common Tasks, New Contract.Įnter Supplier, Contract Description, Currency, Validity dates, Purchasing Unit, Buyer Responsible, Company, Target Value, Incoterms, Incoterms Location, and Payment Terms.Ĭlick on items tab, click add row. In order to create a Purchasing Contract, ensure that Sourcing and Contracting are scoped into your project. In this blog post we are going to focus on creating a purchase contract as a source of supply for the procurement of products through a purchase order. For example, if a supplier invoice is created with reference to the contract, when the invoice is posted, the system updates the relevant contract release history with the supplier invoice details.
The releases made against the contract by these documents are updated in the contract release history. It allows companies to reduce their operational costs and gain a greater control over spending and supplier performance by managing their contract renewals.Ī released purchasing contract can be used as a source of supply for the procurement of products through a purchase order, or a supplier invoice, or in case of a purchase order with limit items, a contract is used in a goods and service receipt. A contract may be defined for a best price or discount on the purchased products. Purchasing contracts are created for products that are frequently purchased from suppliers with whom a long-term relationship is anticipated. A buyer can create a purchasing contract from a supplier quote during the contract negotiation process, or manually, without a preceding document. SAP Business ByDesign purchasing contract processing allows you to create, modify, and approve purchasing contracts.
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