What is product master in SAP MP-APP-DPE - Dynamic Pricing Engine?

SAP Term: product master

• Component: MP-APP-DPE

• Component Name: Dynamic Pricing Engine

• Description: Reusable set of data describing a product or service, maintained via the product manager function in the application, that can be added to opportunities as line items.

Smart SAP Assistant

• Key Concepts: 
  The product master is a database that stores information about products and services offered by a company. It contains details such as product name, description, pricing, and availability. The MP-APP-DPE Dynamic Pricing Engine is a component of the product master that allows companies to set dynamic pricing rules for their products and services. 
  
  How to use it: 
  The MP-APP-DPE Dynamic Pricing Engine can be used to set up pricing rules for products and services. These rules can be based on factors such as customer segment, time of day, or location. The engine also allows companies to adjust prices in real-time based on market conditions. 
  
  Tips & Tricks: 
  When setting up pricing rules, it is important to consider the customer’s needs and preferences. This will help ensure that the prices are competitive and attractive to customers. Additionally, it is important to monitor the market conditions regularly in order to adjust prices accordingly. 
  
  Related Information: 
  The product master is part of SAP’s Enterprise Resource Planning (ERP) system. It is used to store and manage data related to products and services offered by a company. Additionally, the product master can be integrated with other SAP components such as the Sales & Distribution (SD) module or the Materials Management (MM) module.