Explain the basic procurement cycle.
Answer Posted / patel
Hi,
This is a common question that is asked in the interview. The best to answer this question is as follows:
1) Create a source list with approved vendors, validity period, and a fixed vendor.
2) Now create a PR and assign source list that was created to PR through "Assign Sources of Supply."
3) Create a RFQ
4) Vendor Selection
5) Create a PO
6) Create a GR, and then IR.
7) Invoice Verification
8) FIN Reconcile the postings of GL accounts
9) Then Admin does the automatic payment processing.
If you have any questions please revert back.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Hello SAP MM trainers,I am a SAP MM consultant working for MNC in Hyderabad, India and have good experience in domain and SAP MM. I am being forced by my company’s client to show them my SAP MM certification. Now my company is insisting me to write the certification exam. I can write the exam without going to SAP certified institute as my company is SAP partner, but I am not confident that I will pass the exam. As I am working odd hours and family commitment, I do not want to go to SAP certified institute. I am looking for a trainer who is experienced in real life projects (not a full time trainer with bookish knowledge) and certified in SAP MM and willing to train me in couple of weeks so that I can pass the certification in first attempt. Please email sapmmexam@gmail.com
What are some of the movement types for stock transport order?
Can we have release procedure without classification for a po?
How to delete a material completely?
What is the organizational structure in the mm module?
What is a blanket po? In which business scenario you will recommend to use blanket po?
Define “client.”
What do you understand by posting period?
What is business impact of procurement type in material master?
what is cbp? What is the difference between cbp and mrp?
What information is available in the 'accounting view' of a 'material master'?
What is a 'stock type'?
What do you mean by outline agreement?
What are various types of stock transfer?
Is there any procedure for amendment of power? If Pl. X-Plane?