What is maximum retail price in SAP IS-R-POS - Point of Sale?

SAP Term: maximum retail price

• Component: IS-R-POS

• Component Name: Point of Sale

• Description: Retail practice in some markets whereby items are produced by the manufacturer with the retail price of the item, including taxes, printed on the item's packaging. This protects retail shoppers from being charged a higher price or an additional charge for an item by the store when the item is purchased. Because each shipment of the same item may have a different maximum retail price, SAP POS can be configured to display a series of maximum retail prices for an item. The cashier picks the price printed on the item's packaging to process the transaction.

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• Key Concepts: 
  Maximum Retail Price (MRP) is a feature of the IS-R-POS Point of Sale (POS) system in SAP. It is used to set the maximum price that a customer can pay for a product or service. This helps to ensure that customers are not overcharged and that the company is able to maintain its profit margins. 
  
  How to use it: 
  The MRP feature in SAP IS-R-POS can be used to set the maximum price for a product or service. This can be done by entering the maximum price into the system and then setting it as the default price for all customers. The system will then automatically adjust the price for each customer based on their individual needs and preferences. 
  
  Tips & Tricks: 
  When setting the MRP, it is important to consider the cost of production and other overhead costs associated with providing the product or service. This will help ensure that the company is able to maintain its profit margins while still providing customers with a fair price. Additionally, it is important to keep an eye on market trends and adjust the MRP accordingly in order to remain competitive. 
  
  Related Information: 
  The MRP feature in SAP IS-R-POS is just one of many features available in the system. Other features include inventory management, customer loyalty programs, and payment processing. Additionally, SAP offers a range of other software solutions that can be used to manage business operations more effectively.