What is savings metrics in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: savings metrics

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The difference between the budgeted and actual costs for goods and services over a specific time period in a master agreement.

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• Key Concepts: 
  Savings metrics are a set of measurements used to evaluate the success of a sourcing project. They are used to measure the amount of savings achieved by a company through the use of SAP LOD-ESO Sourcing OnDemand. The metrics include total savings, cost avoidance, and cost reduction. 
  
  How to Use It: 
  Savings metrics can be used to track the progress of a sourcing project and measure its success. The metrics can be used to compare different projects and identify areas where improvements can be made. They can also be used to identify areas where additional savings can be achieved. 
  
  Tips & Tricks: 
  When using savings metrics, it is important to ensure that all data is accurate and up-to-date. This will ensure that the metrics are providing an accurate representation of the project’s success. Additionally, it is important to track the metrics over time in order to identify any changes or trends in the project’s performance. 
  
  Related Information: 
  SAP LOD-ESO Sourcing OnDemand provides a range of tools and features that can help companies track their savings metrics. These include dashboards, reports, and analytics tools that can provide detailed insights into the performance of a sourcing project. Additionally, SAP provides a range of resources and support services that can help companies understand and use their savings metrics more effectively.