What is procurement lead time in SAP MM - Materials Management?

SAP Term: procurement lead time

• Component: MM

• Component Name: Materials Management

• Description: A period of time between the issue of the purchase order and the availability of the ordered materials in the warehouse or stores.

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• Key Concepts: 
  Procurement lead time is the amount of time it takes to purchase materials or services from a vendor. It is a key component of Materials Management (MM) in SAP and is used to plan and manage the procurement process. 
  
  How to use it: 
  Procurement lead time is used to determine when materials or services need to be ordered from vendors. It is also used to calculate the delivery date of the materials or services. The lead time can be set up in SAP by entering the vendor’s delivery time in the vendor master record. 
  
  Tips & Tricks: 
  It is important to ensure that the procurement lead time is accurate and up-to-date. This will help ensure that materials and services are ordered in a timely manner and that delivery dates are accurate. 
  
  Related Information: 
  Procurement lead time is closely related to other components of Materials Management, such as inventory management, purchasing, and vendor evaluation. It is also related to other SAP modules, such as Financial Accounting (FI) and Controlling (CO).