What is value limit in SAP MM-SRV - External Services?

SAP Term: value limit

• Component: MM-SRV

• Component Name: External Services

• Description: Maximum value that the costs of unplanned services must not exceed. Value limits facilitate the inclusion of unplanned services in bid invitations or purchase orders. In the case of large procurement projects such as the construction of an office building it is not possible to specify with precision all services or items of work in advance. In such cases, you enter value limits instead of service descriptions.

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• Key Concepts: 
  Value limit is a feature of the SAP MM-SRV External Services component that allows users to set a maximum value for a service or material. This limit can be used to control costs and ensure that services or materials are not over-purchased. 
  
  How to use it: 
  To use the value limit feature, users must first set up the value limit in the system. This can be done by navigating to the MM-SRV External Services component and selecting the “Value Limit” option. From there, users can enter the maximum value they want to set for a service or material. Once the value limit is set, it will be applied to all future purchases of that service or material. 
  
  Tips & Tricks: 
  When setting up a value limit, it is important to consider the total cost of the service or material. This will help ensure that the value limit is set at an appropriate level and will not result in overspending. Additionally, it is important to regularly review and update value limits as needed to ensure that they remain relevant and effective. 
  
  Related Information: 
  For more information on setting up and using value limits in SAP MM-SRV External Services, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.