Salesforce has introduced Global Picklist in its Spring ’16 Release.
Unlike a custom picklist field, a global picklist exists independently as a ”picklistvalue set.” Its values are shared with any picklist that’s based on it. A global picklist is a “restricted” picklist by nature. Only a Salesforce admin can add to or modify its values.
We can implement Global Picklists in 2 steps.
Step 1: Create a Global Picklist.
Step 2: Create an object specific picklist and select the radio button ‘Use Global Picklist Definition’.
This is explained below:
Courtesy: Abhijeet Purohit