Without a doubt, SAP MM is here to stay in the market for the long haul as its popularity is increasing daily. It is the most requested and popular module among the many SAP modules. Also, aspirants are eager to begin their careers in this profession because of the excellent employment opportunities. In such a scenario, SAP MM Training is your must-go option. Such training will assist you to learn all its benefits and help you to become proficient in this module.
Many top firms, such as ITC InfoTech, TCS, IBM, Accenture, and HCL Technologies, use SAP MM. However, you can widely utilize Material Management in multiple areas, including healthcare, retail, banking, telecommunications, energy, education, etc.
SAP MM: Meaning
Before delving into other critical components, it is crucial to understand what SAP MM is. It is a component of SAP ERP software. Many enterprises utilize this module to manage the purchase and transactional data duties and operations. Also, you can recognize it as one of the significant modules to manage warehouse, material, and inventory management abilities.
Need for using SAP MM
There are several benefits of using SAP MM. However, the following are the benefits of using SAP MM:
- SAP (MM) Material Management offers several advantages. It has a substantial impact on lowering material costs. However, you can accomplish this by eliminating unnecessary stockings.
- Furthermore, it helps in the optimization of delivery time.
- It also improves transparency within the company.
- SAP MM also contributes to lower inventory losses and direct labor expenses and helps in the effective usage of manpower.
- In addition, this module aids in lowering the cost of storing unwanted materials.
Unique features of SAP MM
SAP (MM) Material Management has several unique features. As a result, a few of them are as follows:
- SAP (MM) Material Management helps businesses to speed up their material management and procurement processes.
- Helps to manage material and resource expenses to reduce business costs.
- It is a dynamic software that can adapt to changing organizational needs.
- Moreover, SAP Material Managemen handles Master Data, Invoice Verification, Material Valuation, Account Determination, and Material Requirement Planning.
- The several components of SAP Material Managemen try to improve supply chain procedures and boost the company’s productivity.
- Also, it helps to determine the amount of material to carry at each level of the supply chain and assists personnel in determining the inventory levels for each product category.
- SAP MM helps to simplify the supply chain process, assuring on-time delivery of items.
Different Modules of SAP Material Management
SAP Material Management comprises key modules. These modules are as follows:
It is a basic SAP Material Managemen module that acts as the foundation for any transaction, such as selling, acquiring, or transferring shares. However, it has several types, such as customer data, price data, warehouse management data, vendor data, and material data.
Material Requirement Planning
You can process this module in accordance with the material bills. These bills will define the requirements for these materials.
The primary goal of this task is to acquire supplies and services. The duties of this module include purchasing supplies, locating supply sources, and tracking vendor payments. However, these duties assist staff in meeting the needs of the material planning department.
This SAP MM component is concerned with inventory management. It includes numerous critical procedures such as movement type definition, goods receipt, goods movement, and goods issuing.
This module influences the stock price of a specific product. Here, you can calculate the stock value by the material price and stock amount. Also, you can connect the material valuation with valuation tasks such as LIFO and FIFO and material price range.
When anyone posts an invoice in the SAP system, the Material Management module receives an update. Following the information assessment, you can further process the invoice. This component includes activities such as Automatic Invoice and Vendor Invoice Receipt.
Under this module, the activities involved are as follows:
- Creation of Inventory
- Cycle count
- Post difference
- Count area
- Inventory session
This component of SAP Materials Management includes activities such as the service entry sheet and the service master.
Finally, SAP Material Management has a promising future. This module of SAP offers several job opportunities due to its vast features. Thus, in order to obtain all the necessary skills, you must first go for SAP MM Online Training. Such training will help you get aware of its modules and assist you to get a high-paying job.