What is standard product classification in SAP SLC-CAT - Category Management?

SAP Term: standard product classification

• Component: SLC-CAT

• Component Name: Category Management

• Description: A structure list of goods and services, for example, the United Nations Standard Products and Services Code UNSPSC, that allows suppliers on the sell side to assign themselves to the correct purchasing category. The term "standard product classification" is only used on the buy side of SAP Supplier Lifecycle Management. On the sell side, the more general term "product category" is used instead.

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• Key Concepts: 
  Standard product classification is a component of SAP's SLC-CAT Category Management. It is a tool used to classify products into categories and subcategories, allowing for easier product management and organization. It also allows for the creation of product hierarchies, which can be used to create product groups and assign them to specific categories. 
  
  How to use it: 
  Standard product classification can be used to create product hierarchies, which can be used to assign products to specific categories. It also allows for the creation of product groups, which can be used to organize products into categories and subcategories. Additionally, it can be used to assign attributes to products, such as color, size, and material. 
  
  Tips & Tricks: 
  When creating product hierarchies, it is important to ensure that the hierarchy is logical and easy to understand. Additionally, it is important to ensure that the attributes assigned to products are accurate and up-to-date. 
  
  Related Information: 
  For more information on standard product classification, please refer to the SAP Help Portal or contact your local SAP representative.