What is previous price in SAP LOD-SBO - Supply Base Optimization?

SAP Term: previous price

• Component: LOD-SBO

• Component Name: Supply Base Optimization

• Description: The final price of a part in the previous negotiation cycle.

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• Key Concepts: 
  Previous price is a term used in SAP's LOD-SBO Supply Base Optimization component. It refers to the price of a product or service that was previously agreed upon between a buyer and seller. This price is used as a reference point for future negotiations and can be used to compare current prices with the previous price. 
  
  How to use it: 
  Previous price can be used in negotiations between buyers and sellers. It can be used to compare current prices with the previous price, and can be used as a reference point for future negotiations. It is important to note that the previous price may not always be the most up-to-date or accurate price, so it should not be relied upon as the only source of pricing information. 
  
  Tips & Tricks: 
  When using previous price in negotiations, it is important to ensure that the previous price is accurate and up-to-date. This can be done by verifying the information with other sources, such as market research or industry reports. Additionally, it is important to consider other factors such as market conditions and supply/demand when negotiating prices. 
  
  Related Information: 
  For more information on SAP's LOD-SBO Supply Base Optimization component, please visit SAP's website at https://www.sap.com/products/supply-base-optimization.html. Additionally, there are many resources available online that provide more detailed information on pricing strategies and negotiation tactics.