Hi Akshay,
Yes, LVM supports both storage-based and VM-based system copy/refresh for SAP systems. Since you would typically use the storage snapshot to clone the volumes, it's really fast and E2E automation that LVM provides for SAP system copy/refresh operations including automation for post-copy processing tasks (PCA) significantly reduces the turnaround time for SAP system copies and refreshes as compared to other approaches.
In addition, we provide BDLS optimizations that are built-into the PCA (post-copy automation) tool which can help reduce the BDLS runtime by up to 50% in most cases as compared to standard BDLS.
You can find more info. on PCA and BDLS including best practice guides and whitepapers on our SCN space here: http://scn.sap.com/docs/DOC-43270
Additionally, you can refer to our official product documentation on SAP Help Portal:
SAP Landscape Virtualization Management 2.1, Enterprise Edition – SAP Help Portal Page
Hope this helps!
lemme know if you have additional questions...
Best Regards,
Adarsh