What is effective date in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: effective date

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The date on which a contract begins.

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• Key Concepts: 
  Effective date is a term used in SAP LOD-ESO Sourcing OnDemand to refer to the date when a particular action or event takes place. This date is used to determine when a certain action or event should be executed or completed. It is also used to track the progress of a particular process or task. 
  
  How to use it: 
  In SAP LOD-ESO Sourcing OnDemand, effective date is used to determine when a certain action or event should be executed or completed. For example, when creating a new purchase order, the effective date will be used to determine when the order should be placed and when it should be delivered. Additionally, the effective date can be used to track the progress of a particular process or task. 
  
  Tips & Tricks: 
  When setting an effective date in SAP LOD-ESO Sourcing OnDemand, it is important to ensure that the date is accurate and up-to-date. This will help ensure that the process or task is completed on time and that any changes are reflected accurately. Additionally, it is important to keep track of any changes made to the effective date as this can affect the progress of the process or task. 
  
  Related Information: 
  For more information on effective dates in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation provided by SAP. Additionally, there are many online resources available that provide detailed information on how to use effective dates in SAP LOD-ESO Sourcing OnDemand.