What is correction factor in SAP PP-MP - Production Planning?

SAP Term: correction factor

• Component: PP-MP

• Component Name: Production Planning

• Description: A value specified in Customizing with which the consumption value or the forecast value is weighted in the respective period.

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• Key Concepts: 
  Correction factor is a feature in SAP PP-MP Production Planning for Process Industries that allows users to adjust the quantity of a material that is required for a production order. This adjustment is based on the actual quantity of the material that is available in the warehouse. 
  
  How to use it: 
  To use the correction factor, users must first enter the quantity of the material that is available in the warehouse. Then, they can enter the correction factor, which will adjust the quantity of the material that is required for the production order. The adjusted quantity will be displayed in the production order. 
  
  Tips & Tricks: 
  It is important to note that the correction factor should only be used when there is an actual difference between the quantity of material available in the warehouse and the quantity required for the production order. If there is no difference, then it is not necessary to use the correction factor. 
  
  Related Information: 
  The correction factor can also be used to adjust other parameters such as cost and price. For more information on how to use this feature, please refer to SAP's official documentation on PP-MP Production Planning for Process Industries.