Maintain Info Records:
Purchasing Info Records(info record) are maintained as master data. An info record links a material to a vendor. Data included in an info record are current prices and future pricing conditions, vendor and material relationship information and the amount of time it takes a vendor to deliver the material.
An outline purchase agreement is a long-term agreement between a purchasing org. and a vendor. It is regarding the supply of materials or the performance of services within a certain period. A Scheduling Agreement is a form of outline purchase agreement under which materials are procured on predetermined dates within a certain time period.
Procurement Activity Flow:
Create and Maintain Material Master->Create Info Record in SAP for suppliers->Create Scheduleing Agreements for suppliers->Release Scheduling Agreement to suppliers->Create Delivery Lines->Review and Release Delivery Schedule to IEC