SAP MM – An Overview to Material Management
SAP MM stands for System, Applications, and products – Material Management and it is one of the key modules of SAP that is used by various companies. SAP MM deals with the storage of inventory and procurement of material and there is effective usage in business. The main 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 brief, SAP MM (Material Management) handles Material Valuation, Procurement Process, Purchase Orders, Master Data Management, Invoice Verification, Master Data Management, account payable, finished goods management and raw material, cost-effectiveness, and In-time accessibility of the material. Here, in this article, we are going to 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.
Transactional Data: Data connected with the business process is called transactional data.
SAP MM Organizational Structure:
- External Service Management
- Inventory Management
- Valuation & Account Assignment
- Inventory Verification
- Consumption-based Planning
- Excise Duty
Advantages of SAP MM Module
- Minimize the cost of operations
- By removing unessential or obsolete material, the inventory losses are reduced.
- Procurement activities and material management automatically lead to a smoother as well as an effective process.
Recently, SAP has started SAP S4HANA logistics that cover the full production life cycle of business. SAP Material Management is one of the very important processes of SAP S4 HANA Logistics. A lot of people choose SAP S4 HANA Logistics as a career opportunity due to its high popularity and usage. After the launch of S4 HANA logistics, SAP MM online training is one of the highly searched and demanding questions in the search engine as people want to learn this subject either for getting a decent job in the SAP sector or for taking the next step towards learning and working on SAP S4 HANA logistics.