A product master allows you to have different variations of the one product without having to define a new product number for each variation.
Examples of variations include: Size and Colour.
An example of using a product master could be for T-shirts.
It may be beneficial to set up T-shirt as a product and have variants of size on this instead of setting the sizes up as individual items.
E.g PROUDCT1 - T-shirt - Small (Variant 1)
- T-shirt - Medium (Variant 2)
- T-shirt - Large (Variant 3)
This way you set up the item once and then the variants keep some of the same item settings. Check the item master record for an idea of some of the settings which will be shared across variants.
Instead of:
PRODUCT1 - T-shirt - Small
PRODUCT2 - T-shirt - Medium
PRODUCT3 - T-shirt - Large