What is Manage Standard Rates in SAP MFG-DM-ME - Digital Manufacturing Execution?

SAP Term: Manage Standard Rates

• Component: MFG-DM-ME

• Component Name: Digital Manufacturing Execution

• Description: An app used to define and assign standard rates applicable at a resource.

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• Key Concepts: 
  Manage Standard Rates is a feature of SAP’s Digital Manufacturing Execution (MFG-DM-ME) component. It allows users to set and manage standard rates for production operations, such as labor, material, and overhead costs. This helps to ensure that production costs are accurately tracked and reported. 
  
  How to use it: 
  To use Manage Standard Rates, users must first define the standard rates for each production operation. This can be done by entering the rate information into the system or by importing it from an external source. Once the rates have been set, they can be used to calculate the cost of each production operation. 
  
  Tips & Tricks: 
  It is important to keep the standard rates up-to-date in order to ensure accurate cost calculations. Additionally, users should review the standard rates periodically to ensure that they are still relevant and accurate. 
  
  Related Information: 
  Manage Standard Rates is part of SAP’s Digital Manufacturing Execution (MFG-DM-ME) component. Other features of this component include Manage Production Orders, Manage Production Schedules, and Manage Quality Control.