What is price family in SAP IS-R-DM - Demand Management?

SAP Term: price family

• Component: IS-R-DM

• Component Name: Demand Management

• Description: A retailer-defined group of similar products that will share the same price, for example various flavors of a liter bottle of soda.

Smart SAP Assistant

• Key Concepts: 
  Price family is a feature of SAP IS-R-DM Demand Management that allows users to group different prices for the same item. This feature allows users to create different price lists for different customers, or to create different prices for the same item based on quantity or other criteria. 
  
  How to use it: 
  To use the price family feature, users must first create a price family in the system. This can be done by going to the “Price Family” tab in the Demand Management module and selecting “Create Price Family”. Once the price family is created, users can then assign different prices to items within that price family. 
  
  Tips & Tricks: 
  When creating a price family, it is important to consider how the prices will be used. For example, if you are creating a price list for a specific customer, you may want to create a separate price family for that customer. This will make it easier to manage and update prices for that customer in the future. 
  
  Related Information: 
  For more information on using the Price Family feature in SAP IS-R-DM Demand Management, please refer to the official SAP documentation.