Explain P2P cycle, SAP TCodes used in P2P cycle, what is strategic sourcing, what is tactical sourcing

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P2P cycle involves procurement process from requisition to payment. SAP TCodes used are ME21N, ME59N, MIRO, etc. Strategic sourcing is long-term planning for procurement while tactical sourcing is short-term execution.

P2P cycle includes requisition, purchase order, goods receipt, invoice verification, and payment
SAP TCodes used in P2P cycle include ME21N for creating purchase order, ME59N for automatic creation of purchase requisition, MIRO for invoice verification, etc.
Strategic sourcing involves long-term planning for procurement, such as identifying suppliers, negotiating contracts, and managing supplier relationships
Tactical sourcing involves short-term execution of procurement plans, such as placing orders, managing inventory, and ensuring timely delivery
Effective procurement requires a balance of strategic and tactical sourcing to ensure cost savings, quality, and timely delivery

Explain P2P cycle, SAP TCodes used in P2P cycle, what is strategic sourcing, what is tactical sourcing

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