What is rack price in SAP IS-OIL-DS-MAP - Marketing, Accounting and Pricing?

SAP Term: rack price

• Component: IS-OIL-DS-MAP

• Component Name: Marketing, Accounting and Pricing

• Description: Price for branded or unbranded fuel products leaving a terminal. Rack prices can be subject to daily fluctuations and needs to be updated in the system either manually or with the help of an external rack price optimizer.

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• Key Concepts: 
  Rack price is a pricing term used in the IS-OIL-DS-MAP Marketing, Accounting and Pricing component of SAP. It is the price at which a product is sold to a customer at a specific location, such as a gas station. The rack price is determined by the supplier and is based on the cost of the product plus any additional fees or taxes. 
  
  How to use it: 
  In SAP, rack prices are set up in the IS-OIL-DS-MAP Marketing, Accounting and Pricing component. The supplier will enter the cost of the product and any additional fees or taxes that will be added to the price. Once this information is entered, the system will calculate the rack price for each location. 
  
  Tips & Tricks: 
  When setting up rack prices in SAP, it is important to ensure that all of the information entered is accurate. This will ensure that the correct price is calculated for each location. Additionally, it is important to keep track of any changes in taxes or fees that may affect the rack price. 
  
  Related Information: 
  Rack prices are just one type of pricing used in SAP. Other pricing terms include spot prices, contract prices, and market prices. Additionally, there are various tools available in SAP that can help manage pricing and ensure accuracy.