Standard Price means the price of items without any conditions or discounts and is defined considering a set of attributes affecting the price of items such as the Incoterm, Location, Unit of measure, Supplier, etc. This standard price will let you calculate the savings. The Standard Price submenu can be accessed under the Finance Management module in the left-side navigation pane.
Actions/Operations
- View: The user can view standard price information in a non-editable form.
- Edit: The user can edit the standard price.
- Delete: The user can delete the standard price
- Approval Workflow History: The user can view the Approval History of the standard price
Requisition Status Description
- Draft: Any requisition saved and has not been submitted for Approval. View, Edit, and Delete are available actions (Available options for the requestor). View (Option available for all other users other than the requestor)
- Pending for Approval: Requisition that has been submitted for approval but has not yet been approved. View and Approval Work Flow History are available actions.
- Approved: The requisition has been approved by all the approvers. View and Approval Work Flow History are available actions