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

SAP Term: product engine

• Component: FS-PM

• Component Name: Policy Management

• Description: Software integrated in In-Force Business Management that lets you define sales products and their calculations and checks. It consists of the following components: Product Designer Product Engine Formula Editor Formula Engine

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• Key Concepts: 
  The product engine is a component of the FS-PM Policy Management module in SAP. It is a powerful tool that enables users to create and manage product-related data, such as product definitions, pricing rules, and product hierarchies. The product engine also provides a comprehensive set of features for managing product lifecycles, including product versioning, product retirement, and product maintenance. 
  
  How to use it: 
  The product engine can be used to create and manage products in SAP. It allows users to define products, set pricing rules, and create product hierarchies. Additionally, the product engine provides features for managing the lifecycle of products, such as versioning, retirement, and maintenance. 
  
  Tips & Tricks: 
  When creating products in the product engine, it is important to ensure that all relevant data is entered accurately. This includes pricing rules, product hierarchies, and lifecycle information. Additionally, it is important to keep track of changes made to products over time in order to ensure that the most up-to-date version is always being used. 
  
  Related Information: 
  For more information on the product engine in SAP FS-PM Policy Management module, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_FS-PM_POLICY_MANAGEMENT/latest/en-US.