What is model selection procedure in SAP PP-MP - Production Planning?

SAP Term: model selection procedure

• Component: PP-MP

• Component Name: Production Planning

• Description: A specification according to which the system selects the optimum forecast model for a time series in automatic model selection. A distinction is made between procedure 1 and procedure 2.

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• Key Concepts: 
  Model selection procedure is a feature of the Production Planning and Manufacturing (PP-MP) component of SAP. It is used to determine the most suitable production model for a given product or product group. The model selection procedure considers various criteria such as production volume, production costs, and delivery times. 
  
  How to use it: 
  The model selection procedure can be used to determine the most suitable production model for a given product or product group. The user can define the criteria that should be considered in the selection process, such as production volume, production costs, and delivery times. The system then evaluates the criteria and selects the most suitable production model. 
  
  Tips & Tricks: 
  When using the model selection procedure, it is important to ensure that all relevant criteria are taken into account. This will ensure that the most suitable production model is selected for the given product or product group. Additionally, it is important to regularly review and update the criteria used in the selection process to ensure that they remain relevant. 
  
  Related Information: 
  The model selection procedure is part of the Production Planning and Manufacturing (PP-MP) component of SAP. It can be used in conjunction with other features of PP-MP such as material requirements planning (MRP) and capacity planning. Additionally, it can be used in combination with other components of SAP such as Sales and Distribution (SD) and Financial Accounting (FI).