In this video i have explained the Picklist Value Set or Global Picklist feature which rolled out in Winter 16 release of Salesforce.

Global picklists make it easy to share picklists across objects by letting us create picklist fields based on a master list of values.

This video is divided into 3 parts:

1. What is Global Picklist or Picklist Value Set?

2. How to implement it?

3. Points to take care with Global Picklists.