Naming Constants

A named range does not have to refer to a cell or a range of cells but can also refer to a fixed value or even a formula.
Enter the constant value directly as opposed to referring to a cell containing the value.
You can use named ranges to refer to values that do not actually appear in your worksheet. These can be thought as workbook constants. In the Refers To box type "=123".
A constant being a value that is not calculated.
Select (Insert > Name > Define) and enter the constant value.

You can use named ranges to refer to values that do not actually appear in your worksheet. These can be thought of as workbook constants. In the Refers To box type "=123".
Using this technique constants and can be used as an alternative to entering the constant in a cell and using the named range to refer to that cell.
This method can also be used to define abbreviations for example:

SS - {"January","February","March"}