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

SAP Term: product object

• Component: FS-PM

• Component Name: Policy Management

• Description: Instances for product classes for the meta model. The instancing for the Sales Product product class produce the individual, concrete sales products. Product objects can also be instanced. The instances of a product element are marked as contract objects. Instancing takes place for product elements if policy issue has taken place for an insurance policy and it has been purchased, leading to the creation of a concrete policy from the sales product.

Smart SAP Assistant

• Key Concepts: 
  Product Object is a term used in the FS-PM Policy Management component of SAP. It is a type of object that is used to store information about a product, such as its name, description, and other related data. It can also be used to store information about the product's pricing, availability, and other related details. 
  
  How to use it: 
  Product Objects are used in the FS-PM Policy Management component of SAP to store information about products. This information can then be used to create policies and rules for the products, such as pricing and availability. The product objects can also be used to track the performance of the products over time. 
  
  Tips & Tricks: 
  When creating product objects in SAP, it is important to ensure that all of the necessary information is included. This includes the product name, description, pricing, availability, and any other relevant details. Additionally, it is important to keep track of any changes that are made to the product object over time. 
  
  Related Information: 
  For more information on Product Objects in SAP FS-PM Policy Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use Product Objects in SAP.