What is price analysis in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: price analysis

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: The evaluation of a prospective price without performing cost analysis for example, comparing offers with one another.

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• Key Concepts: 
  Price analysis is a process used in the Public Sector Management (PSM-GPR) component of SAP software. It is used to compare the prices of goods and services offered by different vendors in order to determine which vendor offers the best value for money. The process involves analyzing the prices of goods and services offered by different vendors, taking into account factors such as quality, delivery time, and other relevant criteria. 
  
  How to use it: 
  In order to use price analysis in SAP software, users must first create a list of vendors that they wish to compare. This list should include all relevant information about each vendor, such as their prices, delivery times, and quality of goods and services. Once this list is created, users can then use the price analysis tool to compare the prices of goods and services offered by each vendor. The tool will then generate a report that shows which vendor offers the best value for money. 
  
  Tips & Tricks: 
  When using price analysis in SAP software, it is important to remember that the results of the analysis are only as good as the data that is entered into the system. Therefore, it is important to ensure that all relevant information about each vendor is accurately entered into the system before running the analysis. Additionally, it is important to remember that price analysis should not be used as a substitute for other forms of procurement decision-making. 
  
  Related Information: 
  For more information on price analysis in SAP software, please refer to the official SAP documentation on PSM-GPR Procurement for Public Sector. Additionally, there are many online resources available that provide detailed tutorials on how to use price analysis in SAP software.