Which tool is essential for managing and maintaining product and service catalogs in self-service procurement?

The essential tool for managing and maintaining product and service catalogs in self-service procurement is SAP Ariba Catalog. This tool enables organizations to create, manage, and utilize catalogs that contain products and services, offering users an efficient way to select items for procurement. With SAP Ariba Catalog, businesses can ensure that their catalogs are up-to-date, easily accessible, and tailored to meet the needs of their users.

This capability is vital as it streamlines the buying process, allowing employees to find and purchase necessary products or services quickly and efficiently, while also enforcing compliance with procurement policies. The integration of SAP Ariba with other procurement processes ensures a seamless experience from searching for items to placing orders.

Other options, while relevant to the broader procurement landscape, do not specifically focus on the catalog management necessary for self-service procurement. Product Lifecycle Management is primarily concerned with managing the entire lifecycle of products, Procurement Dashboard provides insights and analytics about procurement activities, and Material Requirements Planning deals with inventory and production planning rather than directly managing catalogs.