What is elementary product in SAP FS-PM - Policy Management?

SAP Term: elementary product

• Component: FS-PM

• Component Name: Policy Management

• Description: Level within the product model that enables the policyholder to conclude a primary insurance and any supplementary insurance policies.

Smart SAP Assistant

• Key Concepts: 
  An elementary product is a type of product in the FS-PM Policy Management component of SAP. It is a basic building block for creating more complex products, and it contains all the necessary information to define a product. This includes the product's characteristics, pricing, and other related information. 
  
  How to use it: 
  Elementary products are used to create more complex products in the FS-PM Policy Management component. To create an elementary product, you must first define the product's characteristics, pricing, and other related information. Once this is done, you can then use the elementary product to create more complex products. 
  
  Tips & Tricks: 
  When creating an elementary product, it is important to ensure that all of the necessary information is included. This will help ensure that the product can be used to create more complex products without any issues. Additionally, it is important to keep track of all of the elementary products that have been created, as this will help you keep track of which products are available for use in creating more complex products. 
  
  Related Information: 
  For more information on elementary products in the FS-PM Policy Management component of SAP, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use elementary products in SAP.