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

SAP Term: total savings

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The entire amount saved, calculated as the sum of the cost savings plus the cost avoidance for the master agreement.

Smart SAP Assistant

• Key Concepts: 
  Total savings is a metric used in SAP LOD-ESO Sourcing OnDemand to measure the amount of money saved by a company through the use of the software. It is calculated by subtracting the total cost of goods and services purchased through the software from the total cost of goods and services that would have been purchased without the software. 
  
  How to use it: 
  Total savings can be used to measure the effectiveness of SAP LOD-ESO Sourcing OnDemand. It can be used to compare different sourcing strategies and determine which one is most cost-effective. It can also be used to track progress over time and identify areas where further savings can be made. 
  
  Tips & Tricks: 
  To maximize total savings, it is important to ensure that all relevant data is accurately captured and tracked. This includes information about suppliers, prices, and other factors that may affect the cost of goods and services. Additionally, it is important to regularly review total savings to identify areas where further savings can be made. 
  
  Related Information: 
  Total savings is just one of many metrics that can be used to measure the effectiveness of SAP LOD-ESO Sourcing OnDemand. Other metrics include total spend, average cost per item, and average lead time. Additionally, there are a variety of reports available in SAP LOD-ESO Sourcing OnDemand that can help users track and analyze their total savings.