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

SAP Term: price rank

• Component: LOD-SBO

• Component Name: Supply Base Optimization

• Description: A rank given to the supplier of a part based on the price quotes offered by the various suppliers for that part

Smart SAP Assistant

• Key Concepts: 
  Price rank is a feature of the SAP LOD-SBO Supply Base Optimization component. It is used to determine the relative importance of different prices when making purchasing decisions. Price rank assigns a numerical value to each price, with higher numbers indicating higher priority. This allows buyers to quickly identify the best prices for their needs. 
  
  How to use it: 
  Price rank can be used to compare different prices and determine which one is the most cost-effective. To use price rank, buyers must first assign a numerical value to each price they are considering. The higher the number, the higher the priority of that price. Once all prices have been assigned a numerical value, buyers can then compare them and select the one with the highest priority. 
  
  Tips & Tricks: 
  When assigning numerical values to prices, it is important to consider factors such as quality, delivery time, and other factors that may affect the overall cost of the purchase. Additionally, buyers should also consider any discounts or promotions that may be available for certain prices. 
  
  Related Information: 
  Price rank is just one of many features available in SAP LOD-SBO Supply Base Optimization. Other features include supplier selection, inventory optimization, and demand forecasting. All of these features can help buyers make more informed purchasing decisions and save money in the long run.