9.1/9.2 Procurement Contract

Hi, We are on 9.1 & 9.2,

Wanted to see how different companies handle the closing of requisitions, PO and procurement contracts - and the timing in which they do it? Also, if Oracle has a recommended approach.

We currently use the delivered process to close POs, but have nothing in place for requisitions or procurement contracts. Is there a recommended order to handle this?

We have found out from our procurement team, that each time they receive a new price list from the vendor, a new procurement contract is created, so that the price differences are adjusted for all the regions.The problem is that as it is, the procurement team is not able to close the old contracts, so requesters are creating requisitions with prices from old contracts.