How To Fix MY002 - Error when updating physical inventory prices for material &

SAP Error Message - Details

• Message type: E = Error

• Message class: MY - Messages for Balance Sheet Valuation(Low.Val.Det./LIFO/FIFO)

• Message number: 002

• Message text: Error when updating physical inventory prices for material &

How to fix this error?

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Error message extract from SAP system. Copyright SAP SE.

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• What is the cause and solution for SAP error message MY002 - Error when updating physical inventory prices for material & ?

  The SAP error message MY002 typically occurs during the process of updating physical inventory prices for a material. This error can arise due to various reasons, and understanding the cause is essential for finding an appropriate solution. Here’s a breakdown of the potential causes, solutions, and related information for this error:
  Causes of MY002 Error
  
  
  Incorrect Material Master Data: The material master data may not be set up correctly, leading to issues when trying to update inventory prices.
  
  
  Locked Inventory: The inventory for the material may be locked due to ongoing transactions or processes, preventing updates.
  
  
  Price Control Issues: The price control settings (standard price vs. moving average price) may not align with the physical inventory process being executed.
  
  
  Missing Authorizations: The user may lack the necessary authorizations to perform the update on the material.
  
  
  Inconsistent Data: There may be inconsistencies in the data related to the material, such as discrepancies between the physical inventory count and the system records.
  
  
  System Configuration Issues: There may be configuration issues in the SAP system that affect how physical inventory is processed.
  
  
  Solutions to MY002 Error
  
  
  Check Material Master Data:
  
  Verify that the material master data is complete and accurate. Ensure that all necessary fields are filled out correctly.
  
  
  
  Unlock Inventory:
  
  Check if the inventory is locked. If it is, you may need to wait for the ongoing processes to complete or unlock it if you have the necessary permissions.
  
  
  
  Review Price Control Settings:
  
  Ensure that the price control settings for the material are appropriate for the physical inventory process you are executing. Adjust if necessary.
  
  
  
  User Authorizations:
  
  Confirm that the user has the required authorizations to update physical inventory prices. If not, contact your SAP security administrator to obtain the necessary permissions.
  
  
  
  Data Consistency Check:
  
  Perform a consistency check on the inventory data. Ensure that the physical inventory count matches the system records.
  
  
  
  Consult SAP Notes:
  
  Check for any relevant SAP Notes that may address this specific error. SAP frequently releases updates and patches that can resolve known issues.
  
  
  
  System Configuration Review:
  
  If the issue persists, review the system configuration related to inventory management and physical inventory processes. Consult with your SAP Basis or configuration team if needed.
  
  
  
  Related Information
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as MI01 (Create Physical Inventory Document), MI02 (Change Physical Inventory Document), and MI04 (Enter Inventory Count) to navigate the physical inventory process effectively.
  
  
  SAP Help Documentation: Refer to the official SAP Help documentation for detailed guidance on physical inventory processes and troubleshooting common errors.
  
  
  Community Forums: Engage with SAP community forums or user groups where you can find discussions and solutions related to similar issues.
  
  
  By following these steps, you should be able to identify the cause of the MY002 error and implement a suitable solution. If the problem persists, consider reaching out to SAP support for further assistance.