SAP MM represents System, Applications, and products – Material Management and it is one of the key modules of SAP that is used by different companies. SAP MM deals with the storage of inventory and procurement of material and there is effective usage in business. The principle objective of SAP MM is to improve productivity and reduce cost. With the help of this module, there is no shortage of material and the complete inventory system runs efficiently.
In a word, SAP MM (Material Management) handles Material Valuation, Procurement Process, Purchase Orders, Master Data Management, Invoice Verification, Master Data Management, creditor liability, finished products management and crude material, cost-effectiveness, and In-time accessibility of the material. Here, in this article, we will give an overview of SAP material management and its components.
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Data Stored in SAP R/3 is categorized as:
Master Data: It is needed to be maintained when there is the involvement of stock transfer, production, inventory management, purchase, and sales activities.
Value-based Data: Data connected with the business process is called conditional data.
SAP MM Organizational Structure:
- External Service Management
- Inventory Management
- Valuation and Account Assignment
- Inventory Verification
- Utilization based Planning
- Excise Duty
Advantages of SAP MM Module
- Minimize the expense of operations
- By removing unessential or obsolete material, the inventory losses are reduced.
- Procurement activities and material management consequently lead to a smoother just as an effective process.
Recently, SAP has started SAP HANA coordinations that cover the full product life cycle of business. SAP Material Management is one of the very significant processes of SAP HANA Logistics. A many individuals choose SAP HANA Logistics as a career opportunity due to its high ubiquity and usage. After the dispatch of HANA coordinations, SAP MM online training is one of the profoundly searched and demanding questions in the search engine as people need to learn this subject either for getting a decent job in the SAP sector or for making the next stride towards learning and chipping away at SAP HANA coordinations.