What is market price in SAP MM-PUR - Purchasing?

SAP Term: market price

• Component: MM-PUR

• Component Name: Purchasing

• Description: The price prevailing in the market, reflecting the normal forces of demand and supply.

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• Key Concepts: 
  Market price is a term used in the SAP MM-PUR Purchasing component to refer to the current price of a product or service in the market. It is used to compare the cost of a product or service with the current market price. 
  
  How to use it: 
  In SAP MM-PUR Purchasing, market price can be used to compare the cost of a product or service with the current market price. This comparison can be used to determine if the cost of a product or service is reasonable and competitive. 
  
  Tips & Tricks: 
  When using market price in SAP MM-PUR Purchasing, it is important to remember that the market price may not always reflect the true cost of a product or service. It is important to consider other factors such as availability, quality, and delivery time when making purchasing decisions. 
  
  Related Information: 
  For more information on using market price in SAP MM-PUR Purchasing, please refer to the official SAP documentation.