What is 'historic value' in SAP IS-U-FPC - Formula-Based Price Calculation?

historic value - Overview

• Component: IS-U-FPC

• Component Name: Formula-Based Price Calculation

• Description: A recorded basic index value that is set for a defined date and time. Normally the date and time is in the past, because then the price is fixed. Historic values cannot be changed except in the case of error corrections.

historic value - Details

• 
  Key Concepts: 
  Historic value is a term used in SAP IS-U-FPC Formula-Based Price Calculation. It is a value that is stored in the system and used to calculate the price of a product or service. The historic value is based on the past usage of the product or service and can be used to determine the current price. 
  
  How to use it: 
  The historic value can be used to calculate the current price of a product or service. This is done by taking into account the past usage of the product or service and using this information to determine the current price. The historic value can also be used to compare prices between different products or services. 
  
  Tips & Tricks: 
  When using the historic value to calculate prices, it is important to take into account any changes in usage that may have occurred since the last time the product or service was used. This will ensure that the current price is accurate and reflects any changes in usage. 
  
  Related Information: 
  The historic value can also be used in conjunction with other pricing methods such as cost-plus pricing or market-based pricing. This allows for more accurate pricing decisions and can help ensure that prices are competitive and reflect current market conditions.