Difference between Value Sets and Lookups

What is the difference between Value Sets and Lookups?

Value sets and Lookups are little similar and but have some basic differences.
 

Value Sets VS Lookups

1 - You can attach Value set to parameters of a concurrent program, whereas Lookup can not.
 
2- Certain types of Lookups are maintainable by the users too, for example HR Users will maintain HR lookups whereas Value Sets are almost not maintained by users as they are usually maintained by System Administrators.
 
3- Value sets can contain values that are a result of an SQL Statement, whereas it is not possible in the case of Lookups. 
 
4- Value Set can show dynamic values based on SQL, whereas Lookup Codes are Static list of values.


You can use following SQL to find all values in value sets:

SELECT * FROM FND_FLEX_VALUES_VL




You can use following SQL to find all values in lookups:
 
SELECT * FROM FND_LOOKUPS