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

SAP Term: local value

• Component: FS-PRO

• Component Name: SAP Product Management

• Description: A component value created, in Product Configurator, from within the host product rather than inherited.

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• Key Concepts: 
  Local value is a term used in the FS-PRO SAP Product Management component. It is a type of value that is specific to a particular location or region. This value can be used to determine the pricing of products and services in different areas. 
  
  How to use it: 
  Local value can be used to set different prices for products and services in different locations. This allows businesses to adjust their pricing based on the local market conditions. It also allows businesses to take advantage of regional differences in demand and supply. 
  
  Tips & Tricks: 
  When setting local values, it is important to consider the local market conditions and the competitive landscape. This will help ensure that the prices are set at a level that is competitive and profitable. Additionally, it is important to monitor local values regularly to ensure that they remain up-to-date with changing market conditions. 
  
  Related Information: 
  Local value is closely related to global value, which is a type of value that is applicable across all locations and regions. Global values are typically used for products and services that are sold in multiple countries or regions. Additionally, local values can be used in conjunction with global values to create a pricing strategy that takes into account both regional and global factors.