What is commodity in SAP SRM-BW - SRM Analytics?

SAP Term: commodity

• Component: SRM-BW

• Component Name: SRM Analytics

• Description: A freely definable product categorization description of goods in Global Spend Analysis. This categorization can be used as the feature of an evaluation.

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• Key Concepts:
  Commodity is a term used in SAP SRM-BW SRM Analytics to refer to a type of product or service that is bought and sold in large quantities. It is typically used to refer to raw materials, such as metals, minerals, and agricultural products, but can also refer to manufactured goods.
  
  How to Use It:
  In SAP SRM-BW SRM Analytics, commodities are used to track the purchase and sale of products and services. This allows users to analyze the cost of goods and services over time, as well as identify trends in the market. Commodities can also be used to compare prices between different suppliers.
  
  Tips & Tricks:
  When using commodities in SAP SRM-BW SRM Analytics, it is important to ensure that the data is accurate and up-to-date. This will help ensure that the analysis is accurate and reliable. Additionally, it is important to keep track of any changes in the market that may affect the price of a commodity.
  
  Related Information:
  SAP SRM-BW SRM Analytics also provides other features related to commodities, such as forecasting tools and analytics for tracking trends in the market. Additionally, users can use SAP SRM-BW SRM Analytics to compare prices between different suppliers and identify potential savings opportunities.