What is service master in SAP MM-SRV - External Services?

SAP Term: service master

• Component: MM-SRV

• Component Name: External Services

• Description: A repository for the descriptions of all services that a firm frequently procures. There is a service master record for each service description. The service master database is a source of default data set by the system when you create service specifications for example, for invitations to bid sent to potential subcontractors during a competitive bidding process.

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• Key Concepts: 
  Service master is a component of SAP Materials Management (MM) that enables the management of external services. It allows users to create and manage service contracts, define service specifications, and manage service-related activities. It also provides a central repository for all service-related information. 
  
  How to use it: 
  Service master can be used to create and manage service contracts, define service specifications, and manage service-related activities. It also provides a central repository for all service-related information. To use Service Master, users must first create a service contract in the system. This contract will contain all the details of the services to be provided, such as the duration of the contract, the cost of the services, and any other relevant information. Once the contract is created, users can then define the service specifications and assign tasks to personnel responsible for providing the services. 
  
  Tips & Tricks: 
  When creating a service contract in Service Master, it is important to ensure that all relevant information is included in the contract. This includes details such as the duration of the contract, the cost of the services, and any other relevant information. Additionally, it is important to assign tasks to personnel responsible for providing the services in order to ensure that all tasks are completed in a timely manner. 
  
  Related Information: 
  Service Master is part of SAP Materials Management (MM). Other components of MM include Purchasing (MM-PUR), Inventory Management (MM-IM), and Logistics Invoice Verification (MM-IV). Additionally, Service Master can be integrated with other SAP modules such as Sales and Distribution (SD) and Plant Maintenance (PM).