What is external value in SAP FS-PRO - SAP Product Management?

SAP Term: external value

• Component: FS-PRO

• Component Name: SAP Product Management

• Description: A component or questionnaire value in Product Configurator, inherited, or created in the standalone object.

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• Key Concepts: 
  External value is a term used in the FS-PRO SAP Product Management component. It is a value that is assigned to a product or service that is not part of the SAP system. This value can be used to compare the cost of a product or service with the cost of similar products or services in the market. 
  
  How to use it: 
  External value can be used to compare the cost of a product or service with the cost of similar products or services in the market. This comparison can help determine if the product or service is priced competitively and if it is worth investing in. The external value can also be used to set pricing for products and services. 
  
  Tips & Tricks: 
  When setting external values, it is important to consider factors such as market trends, customer demand, and competitor pricing. This will help ensure that the external value is accurate and up-to-date. Additionally, it is important to regularly review and update external values as market conditions change. 
  
  Related Information: 
  External values are closely related to internal values, which are values assigned to products or services within the SAP system. Internal values are used to calculate costs and profits within the system, while external values are used for comparison purposes outside of the system.