Inventory management is a systematic methodology to obtain, store, manage and optimize the raw materials and finished goods in an organization. It deals with the management of stock, either on value or quantity basis, and includes planning, entry, and keeping records of all the movements of goods.
SAP Inventory Management software helps to sense changes in demand, supply, and network alignment for inventory optimization. SAP inventory software provides a number of tools to simplify the management of raw materials, finished goods and any intermediate inventories or goods.
Organizational efficiency is the goal of SAP inventory management with focus on following processes:
•Monitoring data—Gaining knowledge of inventory levels and change in levels over time
•Interpreting data—Generating action items based on the data
•Executing action items—Assigning the action items to your team
Course Curriculum – Inventory Management in SAP
•Basics of Inventory Management
•Stock Types
•Movement Types
•Process of Goods Receipt
•Process of Goods Issue
•Stock Transfers
i. What is Stock Transfer
ii. Types of Stock Transfer
iii. Transfer between Plants
iv. Transfer between Storage Locations
v. Transfer between Stock types
vi. Transfer using Stock Transport Order
•Return to Vendor
i. Conditions under material returned to vendor
ii. Prerequisites for return to vendor
•Cancellation
•Initial Stock
•Reservations
•Physical Inventory
•Configuration
i. Plant Parameters
ii. Number Range assignment
iii. Screen Selection
iv. End User Restrictions for Inventory Management activities
v. Movement Types and its attributes
vi. Individual transaction configuration
