What is valuation class in SAP PLM-PLC - Product Lifecycle Costing?

SAP Term: valuation class

• Component: PLM-PLC

• Component Name: Product Lifecycle Costing

• Description: An attribute that can be assigned to a material in a specific plant. This makes it possible to group together materials from a financial point of view.

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• Key Concepts: 
  Valuation class is a feature of SAP Product Lifecycle Costing (PLM-PLC) that allows users to assign a specific value to a product or material. This value is used to calculate the cost of the product or material throughout its lifecycle. Valuation classes are used to differentiate between different types of products or materials, such as raw materials, semi-finished goods, and finished goods. 
  
  How to use it: 
  Valuation classes are assigned to products or materials in the SAP system. This is done by entering the valuation class code in the “Valuation Class” field in the product or material master data. Once the valuation class has been assigned, it will be used to calculate the cost of the product or material throughout its lifecycle. 
  
  Tips & Tricks: 
  It is important to ensure that the correct valuation class is assigned to each product or material. This will ensure that accurate costs are calculated throughout the product’s lifecycle. It is also important to keep track of any changes made to the valuation class, as this can have an impact on the cost calculations. 
  
  Related Information: 
  For more information on SAP Product Lifecycle Costing (PLM-PLC), please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use and configure SAP PLM-PLC.