Best practices around changing bill to location or deliver to location

Summary

Best practices around changing bill to location or deliver to location

Content

Hi,

Our bill to locations and deliver to locations keep changing due to business dynamics and globalization. We would like to know what are the best practices around location changes in cloud especially when there are open POs with old addresses and also requestors having old address in requisition preferences. Do you suggest setting up new location or updating the address of existing location? Why? what are pros and cons in each approach?

Appreciate your response.

Thanks,

Raghav