What is industry in SAP AP-MD-BP - SAP Business Partner?

SAP Term: industry

• Component: AP-MD-BP

• Component Name: SAP Business Partner

• Description: The categorization of companies according to their branch of industry.

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• Key Concepts: 
  Industry Component is a part of the SAP Business Partner (BP) application. It enables customers to define and manage industry-specific business partner data. This includes information such as industry codes, industry-specific attributes, and industry-specific relationships. 
  
  How to use it: 
  The Industry Component can be used to define and maintain industry-specific business partner data. This includes information such as industry codes, industry-specific attributes, and industry-specific relationships. The Industry Component also provides a set of predefined industry codes that can be used to classify business partners according to their industries. 
  
  Tips & Tricks: 
  When using the Industry Component, it is important to ensure that the correct industry codes are used for each business partner. This will help ensure that the data is accurate and up-to-date. Additionally, it is important to keep track of any changes that are made to the industry codes or other industry-specific data. 
  
  Related Information: 
  For more information about the Industry Component, please refer to the SAP Business Partner documentation. Additionally, there are several online resources available that provide additional information about the Industry Component and how it can be used in SAP Business Partner applications.