SAP Inventory Management
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Supply Chain Management: SAP Inventory Management
Inventory is a fundamental part of your business. Without proper inventory management, the organization can suffer inefficiencies, profit decline, and sustainability impacts.
What is Inventory Management?
Inventory Management is the practice of controlling inventory flow for maximum organizational efficiency. It is suitable for businesses of any size and focuses on organizing and streamlining product storage and fulfillment. The management of stock can be done on a quantity or value basis. Inventory management in SAP is an important component of the Material Management (MM) module, it deals with stocks and goods movement.
With SAP, many companies have real-time data on inventories, which is vital for capacity management and expansion of complex supply chains. The application provides several management tools to help users create an organized warehousing space while uncovering valuable operational data. A couple of examples include the following.
Supply Chain Management: SAP Inventory Management
Inventory is a fundamental part of your business. Without proper inventory management, the organization can suffer inefficiencies, profit decline, and sustainability impacts.
What is Inventory Management?
Inventory Management is the practice of controlling inventory flow for maximum organizational efficiency. It is suitable for businesses of any size and focuses on organizing and streamlining product storage and fulfillment. The management of stock can be done on a quantity or value basis. Inventory management in SAP is an important component of the Material Management (MM) module, it deals with stocks and goods movement.
With SAP, many companies have real-time data on inventories, which is vital for capacity management and expansion of complex supply chains. The application provides several management tools to help users create an organized warehousing space while uncovering valuable operational data. A couple of examples include the following.
Physical locations or organizational levels:
- Plant: A high-level physical location to which the materials are assigned.
- Storage Location: A specific area within the plant where the material is stored.
Four primary movement of goods are:
- Goods Receipt: Inventory can be approved for immediate use or be checked in.
- Goods Issue: A company may choose to process inventories for production or to sell to customers.
- Return Delivery: When materials are being returned from a customer or vendor.
- Internal Movements: When inventory is transferred internally from one location to another.
Most importantly, proper inventory management allows you to move goods with as little wasted time and money as possible. It can help you to optimize demand fulfillment for e-commerce, which is quickly becoming the norm in business to business today.
Benefits of SAP inventory management are:
- Accuracy and timeliness
- Realistic production schedule
- Quality checking
- Inventory analysis
- Proper reporting.
Technical resource partners for consideration might be –Movilitas, Opsveda, SAP.
Further insights for SAPinsiders around SAP Inventory Management
- Real Time Inventory and Order Visibility: Key for Successful Supply Chain Management. Probodh Chiplunkar from Ithena Technologies, outlines how real-time inventory transparency within a technological landscape affects business operations.
- Pick and Choose: How Kingston General Hospital Manages its Inventory with SAP. Author Davin Wilfrid interviews Derrick Morey at Kingston General Hospital (KGH), about the complex network of systems and people managing all the tubes, bandages, needles, and other medical supplies distributed throughout KGH. As an early adopter of SAP ERP technology, the hospital adopted a centralized inventory management system to track supplies for better accuracy.
- Next-Generation Inventory Management. Tom Chason addresses questions about the SAP Enterprise Inventory and Service-Level Optimization and SmartOps solutions. See how an integrated approach offers a powerful way to meet all these requirements for modern supply chains.
499 results
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- SAP Inventory Management
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Combining Inventory Optimization With Additional Analytics Approaches
Published: 19/August/2022
Reading time: 3 mins
Inventory Optimization emerged as a key focus area over the next two years for SAPinsiders in our recent research, Supply Chain Planning in The Cloud. As organizations still struggle with fluctuating demand patterns developed during the pandemic, inventory policies are also evolving. Hence, it is unsurprising that inventory management and optimization remain a key focus…
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Hard-to-Get Inventory Analyses Become Easy Via the Material Ledger 4.6
Published: 15/July/2002
Reading time: 8 mins
The latest version of the Material Ledger is a significant upgrade and includes two important inventory reporting options: compilation of actual bill of materials and automatic tracking of multilevel variances from standards. I have known about the Material Ledger since R/3 release 3.0B. But perhaps like a lot of field consultants, did not get too…...…
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SAP Service Parts Planning Fine-Tunes After-Sales Business
Published: 30/April/2009
Reading time: 75 mins
See a summary of how the planning process works in Service Parts Planning from a functional viewpoint. Get a functional description of the standard planning process steps and the corresponding planning services offered by Service Parts Planning. Key Concept Service Parts Planning was introduced as a component of service parts management with SAP SCM 5.0…...…
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Create Consignment Fill-Up Sales Orders Using SAP APO SNP
Published: 20/January/2016
Reading time: 28 mins
Follow these prerequisite, configuration, and implementation steps to model the automatic creation of consignment fill-up sales orders in SAP ERP Central Component (ECC) using Supply Network Planning (SNP) deployment functionality in SAP Advanced Planning and Optimization (SAP APO). This process enables the automatic planning and creation of sales orders from SAP APO. It minimizes the…...…
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Lean Implementation of the Material Ledger with Multiple Valuations in a Production Environment
Published: 02/August/2016
Reading time: 25 mins
Learn how to design the standard SAP system to implement the Material Ledger with multiple valuations in the production environment using the Special Purpose Ledger. The main reason to use the Special Purpose Ledger is to avoid changes required in existing currency settings and impacts on other applications that are already in use. The Special…...…
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Real-Time Inventory and Order Visibility: Key for Successful Supply Chain Management
Published: 21/July/2021
Reading time: 7 mins
With advancements in technology such as Internet of Things (IoT), cloud, and big data, demands and expectations for supply chain management have continuously grown over the past few decades. Greater organization of real-time data and visibility into inventory and orders can be a crucial tool in achieving more efficient operations and greater customer value. Large-scale…
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- SAP Inventory Management
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Is Your Inventory Strategy a Bottleneck?
Published: 18/November/2022
Reading time: 2 mins
As supply chain risks increase and businesses become more complex and globalized, inventory management challenges are growing exponentially. Inventory Optimization emerged as a key focus area over the next two years for SAPinsiders in our recent research, Supply Chain Planning in The Cloud. As organizations still struggle with fluctuating demand patterns developed during the pandemic,…
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Why Continuous Availability is a Must for SAP Users
Published: 22/May/2023
Reading time: 5 mins
Inventory management is crucial for supply chain strategies. Today, organizations need to quickly extract valuable insights from real-time data and promptly adapt to market changes. However, achieving this level of agility requires embracing technology. Unfortunately, most organizations have not prioritized the adoption of agile-enabling technology. According to RFgen’s recent Digital Inventory Report, only 16% of…
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Split One Record into Multiple Records for Reports Using Return Tables
Published: 01/July/2003
Reading time: 25 mins
When a report requires that one record be split into multiple records, the method often used is to modify the data in the source system. You can avoid this tedious process by using a hard-to-find BW option called the return table. It allows you to insert ABAP code within an update rule to split the…...…
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Track Multiple Manufacturer Part Numbers Effectively Using Manufacturer Part Number Management
Published: 03/June/2010
Reading time: 10 mins
Learn how you can set up manufacturer part numbers (MPNs) to manage your multiple vendor part numbers efficiently. These are the configuration steps, tips and tricks, and common pitfalls you need to watch out for when implementing this functionality. Key Concept A manufacturer part number (MPN) is a part number by which a material provided…...…
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Sparsh J Varsani
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