SAP Solution Manager 7.2 · Solution Documentation: Libraries & Process Model
What is the Alerting Library for, and why build alert objects in the Business Process area rather than in the library?
It's a set of alert objects for Business Process Monitoring (proactive alerts on potentially disruptive issues); SolMan auto-collects data for alert objects assigned to flows/steps/interfaces/interface steps.
Build them in the Business Process area, not the library, because alert info can only be consumed when the object is assigned to a flow element. Organize by managed system / monitoring responsibility / org unit / region.
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