What is objective in SAP SRM-CM - SRM Category Management?

SAP Term: objective

• Component: SRM-CM

• Component Name: SRM Category Management

• Description: A business object representing a goal, or desired outcome, of a program or initiative. An objective's value can be expressed in monetary terms, representing cost or savings.

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• Key Concepts: 
  SRM-CM (SAP Supplier Relationship Management - Category Management) is a tool that helps organizations manage their supplier relationships and optimize their procurement processes. An objective in SRM-CM is a goal or target that an organization sets for itself in order to achieve a desired outcome. Objectives can be set for different areas of the procurement process, such as cost savings, supplier performance, and compliance. 
  
  How to use it: 
  Objectives can be set in SRM-CM by defining the desired outcome, setting a timeline for achieving the objective, and assigning resources to help reach the goal. Once an objective has been set, SRM-CM can be used to track progress towards the goal and measure performance against the objective. 
  
  Tips & Tricks: 
  When setting objectives in SRM-CM, it is important to ensure that they are realistic and achievable. It is also important to ensure that objectives are measurable so that progress can be tracked and performance can be evaluated. 
  
  Related Information: 
  Objectives are an important part of any procurement process and can help organizations optimize their supplier relationships and improve their overall performance. For more information on setting objectives in SRM-CM, please refer to the SAP Help Portal.