What is list price in SAP SRD-SRM - SRM-Supplier Relationship Management?

SAP Term: list price

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: The proposed selling price of a material or service to be used when there is no contract or catalog available from a supplier. Discounts or surcharges may apply to the list price. This price component is determined on the basis of a predefined list price.

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• Key Concepts: 
  List price is a term used in SAP Supplier Relationship Management (SRM) to refer to the price of a product or service that is listed in the supplier’s catalog. It is the price that the supplier has set for the item and is usually the starting point for negotiations between the supplier and buyer. 
  
  How to Use It: 
  In SAP SRM, list prices are used to determine the cost of goods and services purchased from suppliers. The list price is used as a reference point for negotiations between buyers and suppliers, and can be adjusted based on discounts, rebates, or other factors. The list price can also be used to compare different suppliers and their offerings. 
  
  Tips & Tricks: 
  When negotiating with suppliers, it is important to remember that list prices are not always set in stone. Buyers should be prepared to negotiate discounts or other incentives in order to get the best deal possible. Additionally, buyers should be aware of any hidden costs or fees that may be associated with a particular product or service. 
  
  Related Information: 
  List prices are just one factor that buyers should consider when selecting a supplier. Other factors such as quality, delivery times, customer service, and payment terms should also be taken into account when making a decision. Additionally, buyers should research any potential suppliers thoroughly before entering into an agreement with them.