ERP MM (Materials Management)

ERP Materials Management (MM), a crucial module in the ERP suite, is expertly offered by Placement Point Solutions. This module simplifies the process of purchasing and managing inventories.

This module streamlines how you buy and keep track of stock by putting all your goods management in one spot. Key subjects in ERP MM are Vendor Management, Purchase Orders, Inventory Management, Invoice Verification, and Material Requirement Planning.

Mastering vendor management, placing accurate purchase orders, keeping inventory in check, and ensuring invoices match up—these are the essentials that keep your supply chain tight and transactions smooth. When businesses need to get their material management on point, nothing beats the precision and efficiency of an ERP-MM system.

ERP stands for Systems, Applications, and Products in Data Processing – a world leader in enterprise resource planning (ERP) software. Materials Management (MM) module is one of the many ERP modules and is widely regarded as a key module for managing procurement and inventory functions.

This guide is intended to go into the details of what ERP MM is and provide an explanation as to why it is necessary for businesses in the current cutthroat business world.

ERP MM is a specific module from the vast ERP ERP program. Its scope mainly entails material management that is demanded, processed, and created inside enterprises.

It includes the activities that include procurement processes, inventory management, goods movement, and material valuation among others. All these activities taken together give the required perception to conduct these elements of the business with utmost efficiency.

ERP Materials Management Course Introduction:

• Procurement Process: ERP MM manages all aspects of the procurement chain- from the processing of purchase orders to the evaluation of vendors.
• Inventory Management: ERP MM is tasked with stock quantities and movements from the initial stage of purchasing to the last stage of warehouse management.
• Material Valuation: The current market value of the materials that are in the stock is reflected in ERP MM, and therefore, it provides an accurate and true picture of the inventory valuation.
• Invoice Verification: ERP MM makes sure that the process of invoice verification is integrated with the process of acquiring materials.
• Vendor Master Data: All vendors who supply commodities and services to the company are recorded on ERP MM.

Syllabus:

• Introduction to ERP and ERP MM
• Overview of ERP ERP
• Role and Functionality of ERP MM
• Navigation in ERP
• Organizational Structure in ERP MM
• Definition of Organizational Levels
• Configuration of Plant, Storage Location, Purchasing Organization
• Assignment of Organizational Units
• Master Data Management
• Material Master Data
• Vendor Master Data
• Purchasing Info Records, Source Lists, and Quota Arrangements
• Procurement Process
• Purchase Requisitions (PR)
• Purchase Orders (PO)
• Outline Agreements (Contracts and Scheduling Agreements)
• Document Types in Purchasing
• Customization of Document Types
• Field Selection and Screen Layouts
• Number Ranges for Document Types
• Pricing and Conditions
• Pricing Procedure Configuration
• Condition Types and Records
• Schema Group and Calculation Schema
• Inventory Management
• Goods Receipts and Goods Issue
• Stock Transfers and Transfer Postings
• Reservation and Physical Inventory
• Valuation and Account Determination
• Material Valuation Basics
• Valuation Class and Account Grouping
• Integration with Financial Accounting
• Invoice Verification
• Process of Invoice Verification
• Variances and Invoice Blocks
• Subsequent Debit/Credit, Delivery Costs
• Procurement Optimization
• Vendor Evaluation
• Subcontracting, Consignment, and Pipeline Handling
• Automated Procurement Processes
• Material Requirement Planning (MRP)
• MRP Concepts and Settings
• Planning Run, Lot Sizing, and Evaluation
• MRP List and Stock/Requirements List
• Purchasing Optimization
• Source Determination
• Automatic PO Creation
• Vendor Selection and Comparison
• External Services Management (ESM)
• Service Master and Service PO
• Service Entry Sheet
• Evaluation of Services
• Inventory Valuation
• Standard and Moving Average Price
• Split Valuation
• Actual Costing/Material Ledger
• Special Procurement Types