The Materials Management module includes two sub-modules; procurement and inventory management. Inventory management entails the planning and control of material stocks by quantity and value. It also includes the planning, data entry and documentation of all goods movements to, from, and within the storage locations in the stock plant. Any transaction that will cause a change of stock is entered in real time and the resulting update of the stock takes place immediately. This provides the user with an overview of the stock level of any material that is always current.
The objective of this document is to provide an overview of the business process for the inventory cycle from the creation of a material master, procurement, [MIGO] goods receipt, [MB1A] goods issue and the physical inventory process.