Question - What is meant by the Outline Agreement and its different types?
Answer -
Ans – Well, an Outline Agreement is defined as a long-term purchasing agreement done with the vendors. In this agreement, you will find general terms and conditions related to the material that is usually supplied by the vendors. Outline agreements have two types that are involved in the SAP SD course.
- Scheduling Agreement: It is known as an external agreement comprising the details of services, products, and delivery dates.
- Contract: The contracts usually exist between ordering parties and vendors over a specified period. You will find two types of contracts mentioned as value contracts and quantity contracts.