What is inventory price in SAP SRD-SCM-WME - SCM-Warehousing and Manufacturing Execution?

SAP Term: inventory price

• Component: SRD-SCM-WME

• Component Name: SCM-Warehousing and Manufacturing Execution

• Description: The price that is used to valuate the quantity of a given material that is held in inventory. The inventory price can be changed during a financial period. However, only one inventory price can be used for any one financial period.

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• Key Concepts: 
  Inventory price is a term used in SAP's SCM-Warehousing and Manufacturing Execution (SRD-SCM-WME) component. It is the cost of goods that are stored in a warehouse or manufacturing facility. This cost includes the cost of purchasing the goods, as well as any additional costs associated with storing and handling them. 
  
  How to use it: 
  Inventory price is used to calculate the total cost of goods stored in a warehouse or manufacturing facility. This cost is then used to determine the profitability of a business. It is also used to calculate the cost of goods sold, which is then used to determine the overall profitability of a business. 
  
  Tips & Tricks: 
  When calculating inventory price, it is important to consider all costs associated with storing and handling the goods. This includes costs such as storage fees, handling fees, and any other costs associated with storing and handling the goods. Additionally, it is important to consider any discounts or promotions that may be available when purchasing the goods. 
  
  Related Information: 
  Inventory price is closely related to inventory management, which is the process of tracking and managing inventory levels in a warehouse or manufacturing facility. Additionally, inventory price is also related to inventory control, which is the process of ensuring that inventory levels are maintained at an optimal level.