Which of the following is a typical component of the contract request process in Ariba?

A typical component of the contract request process in Ariba is the contract approval workflow. This is crucial as it outlines the steps that must be taken for a contract to receive the necessary approvals from different stakeholders before it becomes effective. The workflow helps to ensure that all organizational policies and compliance requirements are met, and that the relevant parties have a chance to review the terms and conditions of the contract.

The contract approval workflow typically includes various stages such as initial request submission, vetting by legal teams, and final approval by management or specific approvers designated within the organization. This structured approach helps in managing risk and ensuring accountability, as each layer of approval adds a checkpoint in the decision-making process.

While supplier selection, price negotiation, and supplier onboarding are also important aspects of procurement processes, they are not specifically part of the contract request phase. Supplier selection involves assessing and choosing suppliers based on certain criteria, price negotiation focuses on reaching agreeable terms between the buyer and suppliers, and supplier onboarding refers to integrating new suppliers into the procurement system. These elements might occur before or after the contract request process but are not fundamental components of that specific stage.