What is cost planning in SAP IS-DRY - SAP Dairy Management by msg?

SAP Term: cost planning

• Component: IS-DRY

• Component Name: SAP Dairy Management by msg

• Description: The costs that you plan on a cost center in a plant, for example. These can also be the plan cost rates and plan prices with which the quantities are calculated and further allocated.

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• Key Concepts: 
  Cost planning in IS-DRY SAP Dairy Management by msg is the process of forecasting and budgeting for the costs associated with running a dairy farm. This includes costs related to feed, labor, equipment, and other inputs. It also includes the costs associated with marketing and selling dairy products. 
  
  How to use it: 
  Cost planning in IS-DRY SAP Dairy Management by msg is done through a series of steps. First, the user must identify the costs associated with running a dairy farm. This includes both fixed and variable costs. Next, the user must forecast the expected costs for each item. Finally, the user must create a budget based on these forecasts. 
  
  Tips & Tricks: 
  When creating a cost plan in IS-DRY SAP Dairy Management by msg, it is important to consider both short-term and long-term costs. Additionally, it is important to consider potential changes in market conditions that could affect the cost of inputs or the price of dairy products. 
  
  Related Information: 
  IS-DRY SAP Dairy Management by msg also offers tools for managing inventory, tracking production, and analyzing data. Additionally, it provides tools for managing financials such as accounts receivable and accounts payable.