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.
Add Comment