Master data are applicable in all business transactions and almost never change. They are related to:
- Parties – provide identifiers of seller, buyer and third parties (carriers or financial institutions) and all their fixed attributes: addresses, names, etc.
- Products – provide trade item identifiers and all their fixed attributes: full product specification, packaging hierarchy, etc.
- Prices – provide prices and payment terms, discounts, charges, etc., if they are known before the transaction.
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