What is 'declared value' in SAP SRD-SCM-WME - SCM-Warehousing and Manufacturing Execution?

declared value - Overview

• Component: SRD-SCM-WME

• Component Name: SCM-Warehousing and Manufacturing Execution

• Description: The monetary value of a shipment that is declared by the shipper.

declared value - Details

• 
  Key Concepts: 
  Declared value is a term used in SAP's SCM-Warehousing and Manufacturing Execution (SRD-SCM-WME) component. It is the value of goods that is declared to customs authorities for the purpose of taxation or other regulations. It is usually based on the cost of the goods, but can also include other factors such as insurance and freight costs.
  
  How to use it: 
  In SAP, the declared value of goods can be set up in the system by entering the relevant information into the relevant fields. This information can then be used to calculate taxes and other fees that may be applicable to the goods. The declared value can also be used to determine the amount of insurance coverage that should be taken out for the goods.
  
  Tips & Tricks: 
  When setting up the declared value in SAP, it is important to ensure that all relevant information is entered accurately. This will ensure that taxes and other fees are calculated correctly and that insurance coverage is adequate. It is also important to keep track of any changes in the declared value over time, as this may affect taxes and other fees.
  
  Related Information: 
  For more information on how to set up declared values in SAP, please refer to SAP's documentation on SCM-Warehousing and Manufacturing Execution (SRD-SCM-WME). Additionally, you may find it helpful to consult with a tax or customs