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a copy-paste from the F1 ( sometimes its helpful to have information available HERE. 🙂
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Industry key
An industry is a distinct group of companies with the same basic business activity. The industry key is used in selecting data for evaluations (for example, a vendor master data list). You can specify industries such as trade, banking, service, manufacturing, health care, public service, media and so on.
Note
The industry field belongs to the general data area of customer and vendor master records
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