What is succession planning in SAP LOD-SF-SCM - Succession Management?

SAP Term: succession planning

• Component: LOD-SF-SCM

• Component Name: Succession Management

• Description: The determination of potential successors for open positions, or for positions that may become vacant in the future.

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• Key Concepts: 
  Succession planning is a process used by organizations to identify and develop internal people with the potential to fill key business leadership positions in the future. It is a component of SAP’s LOD-SF-SCM Succession Management module, which helps organizations plan for the future by identifying and developing talent within the organization. 
  
  How to use it: 
  The LOD-SF-SCM Succession Management module helps organizations identify and develop talent within the organization. It provides tools to assess potential candidates, create succession plans, and track progress. It also provides reporting capabilities to help organizations monitor their succession planning efforts. 
  
  Tips & Tricks: 
  When using the LOD-SF-SCM Succession Management module, it is important to ensure that all relevant stakeholders are involved in the process. This includes HR, line managers, and senior executives. Additionally, it is important to ensure that succession plans are regularly reviewed and updated as needed. 
  
  Related Information: 
  For more information on SAP’s LOD-SF-SCM Succession Management module, please visit the SAP website at https://www.sap.com/products/succession-management.html. Additionally, there are many resources available online that provide guidance on how to effectively implement succession planning in an organization.