What is material start in SAP FS-PM - Policy Management?

SAP Term: material start

• Component: FS-PM

• Component Name: Policy Management

• Description: Time/date from which an insurance company bears the hazard risk to be insured. The material start assumes the following: The formal start The technical start Payment of the initial premium Use of waiting periods if necessary

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• Key Concepts: 
  Material start is a feature of the FS-PM Policy Management component of SAP. It allows users to define and manage the start and end dates of materials in the system. This helps to ensure that materials are available when needed and that they are not used beyond their expiration date. 
  
  How to use it: 
  To use material start, users must first define the start and end dates for each material in the system. This can be done manually or through an automated process. Once the dates have been set, users can then manage the materials accordingly. For example, they can set up alerts to remind them when a material is about to expire or when it needs to be replenished. 
  
  Tips & Tricks: 
  When setting up material start, it is important to ensure that the start and end dates are accurate. This will help to ensure that materials are available when needed and that they are not used beyond their expiration date. Additionally, it is important to keep track of any changes made to the start and end dates so that they can be updated accordingly. 
  
  Related Information: 
  Material start is just one of many features available in the FS-PM Policy Management component of SAP. Other features include material tracking, inventory management, and cost control. Additionally, there are a variety of other components within SAP that can help users manage their materials more effectively.