What is product module group in SAP FS-PM - Policy Management?

SAP Term: product module group

• Component: FS-PM

• Component Name: Policy Management

• Description: Grouping of product modules from the same product class to simplify administration. This grouping only takes place for in-force business not in Product Engine msg.PM. The identification of a product module takes place with the product module ID in Product Engine msg.PM with the PM ID. A product module group is assigned to just one group dimension.

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• Key Concepts: 
  Product Module Group (PMG) is a component of the SAP Financial Services (FS) Policy Management (PM) module. It is used to manage and control the product lifecycle, from product definition to product retirement. PMG enables organizations to define and manage product portfolios, create product hierarchies, and manage product attributes. 
  
  How to use it: 
  PMG provides a comprehensive set of tools for managing the product lifecycle. It allows users to define and manage product portfolios, create product hierarchies, and manage product attributes. It also provides a range of features for managing pricing, discounts, and promotions. Additionally, PMG provides a range of reporting capabilities for analyzing product performance. 
  
  Tips & Tricks: 
  When using PMG, it is important to ensure that all product attributes are accurately defined and maintained. This will ensure that the system is able to accurately track and report on the performance of products in the portfolio. Additionally, it is important to ensure that all pricing and discounting rules are correctly configured in order to maximize profitability. 
  
  Related Information: 
  For more information on PMG, please refer to the SAP Help Portal or contact your local SAP representative. Additionally, there are a number of online resources available which provide detailed information on how to use PMG effectively.