There are two level’s of term store management :
1. Local ( Site collection Level ) :Site Collection Administrator access required .
2. Global ( Central administration level ) :Term store administrator access required .
Steps to create Term Store at Local level :
- Go to site sittings then Site columns
- Create a new custom column with column type as “Managed metadata”
- And also Select Under term Set settings [ on the same page ] , Select customize your term set, provide some description to the Term set and Click on Edit Using term set manager.
- This will take us to a Site collection [Local] Term store management page and From here by using Create Term or Reuse term we can create Terms.