What is product family in SAP SCM-SOP - Sales & Operations Planning?

SAP Term: product family

• Component: SCM-SOP

• Component Name: Sales & Operations Planning

• Description: A group of products. The customer defines the criteria for grouping the products.

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• Key Concepts: 
  Product family is a term used in SAP SCM-SOP Sales & Operations Planning to refer to a group of related products that are managed together. Product families are used to simplify the planning process by allowing planners to manage multiple products at once. 
  
  How to use it: 
  Product families can be created in SAP SCM-SOP Sales & Operations Planning by grouping related products together. This allows planners to manage multiple products at once, making the planning process more efficient. Planners can also use product families to analyze sales trends and forecast demand for related products. 
  
  Tips & Tricks: 
  When creating product families, it is important to ensure that the products are related and that they have similar characteristics. This will make it easier for planners to manage the product family and analyze sales trends. It is also important to keep product families up-to-date, as changes in the market may require changes in the product family structure. 
  
  Related Information: 
  For more information on product families in SAP SCM-SOP Sales & Operations Planning, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tips and tricks for creating and managing product families in SAP SCM-SOP Sales & Operations Planning.