What is lot in SAP SRM-LA - Live Auction?

SAP Term: lot

• Component: SRM-LA

• Component Name: Live Auction

• Description: A grouping of line items treated technically as a single item for bid validation purposes; bidders must bid on every item in a lot before they can submit their bid; data is rolled up to the lot level for bid validation.

Smart SAP Assistant

• Key Concepts: 
  A lot is a grouping of items in SAP SRM-LA Live Auction. It is used to define the quantity of items that are being sold in a single auction. The lot size can be defined by the buyer and can range from one item to multiple items. 
  
  How to use it: 
  In SAP SRM-LA Live Auction, buyers can create lots for their auctions. To do this, they must first define the lot size, which is the number of items that will be included in the lot. Once the lot size has been defined, buyers can then add items to the lot. The items can be added one at a time or in bulk. Once all of the items have been added, the lot is ready to be auctioned off. 
  
  Tips & Tricks: 
  When creating lots for an auction, it is important to consider the size of the lot and how it will affect the bidding process. If the lot size is too small, there may not be enough interest from bidders and the auction may not be successful. On the other hand, if the lot size is too large, it may be difficult for bidders to bid on all of the items in the lot. 
  
  Related Information: 
  SAP SRM-LA Live Auction also allows buyers to create multiple lots for a single auction. This allows buyers to group different types of items together and make them available for bidding at once. This can help buyers get more bids on their auctions and increase their chances of success.