Quantity Contract − In this type of contract overall value is specified in terms of total quantity of material to be supplied by vendor. Value Contract − In this type of contract overall value is specified in terms of total amount to be paid for that material to the vendor. Contract can be created by following the below steps − • Path to create Contract − Logistics ⇒ Materials Management ⇒ Purchasing ⇒ Outline Agreement ⇒ Contract ⇒ Create • T-code − ME31K