Inventory and purchasing management is one of the most important modules of SAP MM, a module of external procurement and services. MM consists of procurement master data management and inventory management. MM's process is based on different types of master data stored in different types of master data. Master data consists of material, vendor and purchasing info records.
The procurement cycle consists of various steps. It starts with the determination of requirements. The various steps include the determination of the source of supply. Vendor selection Purchase order creation, goods creation, invoice verification, and payment processing. The organizational elements of SAP start with the client. Physical inventory is carried out at storage level. Centralized purchasing and decentralized purchasing are possible. The MM process is based on the different types of master data stored in the master record. The material master is used in all components of the SAP logistics system. The item number uniquely identifies the master record of the item master. Materials are grouped and assigned to material types. Not only internal procurement but also external procurement is possible. You can create different types of purchasing documents in the form of purchase requisitions, RFQs, quotations, purchase orders, contracts and scheduling aggregates. Inventory management involves the receipt of goods, storage, management, material and payment payments. It is divided into three phases: inventory management, inventory counting, and inventory analysis. Logistics invoice verification in MM completes the material procurement process.
In Inventory Management, the transactions that affect accounting are goods receipt, goods issue, transfer posting. These transactions may change the value of the item depending on the type of price control. Material Valuation In the SAP R / 3 system, material valuation can be carried out according to the moving average price method (V price) or the standard price method (S price). Material requirements planning is an important aspect of SAP that you have contracts as well as scheduling agreements. MM also performs reorder planning. There is manual and reorder point planning. . MRP involves the automatic creation of procurement proposals for inventory monitoring and purchasing.
If you don’t feel very confident before SAP MM Certification, we recommend you to consider taking SAP MM Training. SAP MM Training is essential if you are a complete beginner in SAP MM and is beneficial even for those who have some experience as SAP MM consultants. Choose from free and paid MM courses available online or in your city.
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