What is joint production in SAP FIN-BAC-INV - Inventory Accounting?

SAP Term: joint production

• Component: FIN-BAC-INV

• Component Name: Inventory Accounting

• Description: Simultaneous production of multiple materials in a single production process. In contrast to by-products, joint products receive allocations of some of the production costs during WIP clearing. The settlement rule defining how the production costs are allocated can be configured individually for each production process.

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• Key Concepts: 
  Joint production is a process in SAP Inventory Accounting (FIN-BAC-INV) where two or more products are produced in a single production order. This process allows for the production of multiple products in one go, which can help to reduce costs and increase efficiency. 
  
  How to use it: 
  In order to use joint production, you must first create a production order for the products you wish to produce. You can then assign the materials and resources needed for the production of each product. Once the production order is created, you can then select the “Joint Production” option in the “Production Order” tab. This will allow you to combine the production orders of multiple products into one. 
  
  Tips & Tricks: 
  When using joint production, it is important to ensure that all of the materials and resources needed for each product are available before beginning the process. Additionally, it is important to keep track of the costs associated with each product so that you can accurately calculate your total costs. 
  
  Related Information: 
  For more information on joint production in SAP Inventory Accounting, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_ERP_Central_Component/6.0/en-US/f3d8f9a7c2b14e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7c2b1e8a9f3d7