What is sample-based physical inventory in SAP MM-IM - Inventory Management?

SAP Term: sample-based physical inventory

• Component: MM-IM

• Component Name: Inventory Management

• Description: The counting or measuring of a small part of the stock sample that is representative of the entire stock. The sample to be inventoried is determined on a mathematical-statistical basis. A physical inventory count and an inventory adjustment posting are performed for the items in the sample. Based on the inventory adjustment posting, an extrapolation provides an estimated value for the entire stock. If the extrapolation is successful, it is assumed that the book inventory is correct.

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• Key Concepts: 
  Sample-based physical inventory is a process in SAP Inventory Management (MM-IM) that allows users to take a sample of items from a larger inventory and use that sample to estimate the total quantity of the entire inventory. This process is used to reduce the time and cost associated with taking a full physical inventory. 
  
  How to use it: 
  To use sample-based physical inventory, users must first define the sample size and selection criteria. The sample size should be large enough to provide an accurate estimate of the total inventory, but small enough to be manageable. The selection criteria should be based on factors such as item type, location, or value. Once the sample size and selection criteria have been defined, users can then select the items for the sample and take a physical count of those items. 
  
  Tips & Tricks: 
  When selecting items for the sample, it is important to ensure that the items are randomly selected in order to get an accurate estimate of the total inventory. Additionally, it is important to ensure that all items in the sample are counted accurately in order to get an accurate estimate of the total inventory. 
  
  Related Information: 
  For more information on sample-based physical inventory in SAP Inventory Management (MM-IM), please refer to SAP Help documentation or contact your local SAP support team.