Hello Payal,
Your is not a specific query. It asks to explain an SAP process which is a big subject AND not necessarily each member is conversant with all aspects of this process. Members/Experts will have exposure to their own practices, which will be a part of total possibilities under this head. As you said lot of discussions are there on Refurbishment process which tell so much. But they will be useful only when you work in the system and get stuck and get somewhere.
Go through this link also: The Steps Regarding Refurbishment Order
Here is a useful document on: External Refurbishment process
SCN discussion Refurbishment order (see the long post by SAP@PM)
SAP help:Order Processing: Refurbishment of Repairable Spares
SAP Help: Processing Material Refurbishment Without Serial Numbers
My post in this discussion: Refurbishment Process Flow
Cost related: Concept of actual cost calculations in Refurbishment Order
Cost related: pdf
Search Google thoroughly with start word of the string as SAP. And go though all links and documents. There are plenty available.
Good luck
KJogeswaraRao