What is 'absolute quantity' in SAP SCM-ECT-LIM - Logistics Inventory Management Engine?

absolute quantity - Overview

• Component: SCM-ECT-LIM

• Component Name: Logistics Inventory Management Engine

• Description: Value determined through counting, measuring, weighing, or similar procedures. In contrast to the difference quantity, the absolute quantity describes the total stock of a good in the relevant location or handling unit.

absolute quantity - Details

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  Key Concepts: 
  Absolute quantity is a term used in the Logistics Inventory Management Engine (LIM) component of SAP. It is a measure of the actual physical quantity of an item in stock, as opposed to the relative quantity, which is the quantity available for use. 
  
  How to use it: 
  The absolute quantity is used to determine the actual physical inventory of an item. This can be used to track inventory levels and ensure that there is enough stock on hand to meet customer demand. It can also be used to identify any discrepancies between the actual physical inventory and the relative quantity. 
  
  Tips & Tricks: 
  It is important to keep track of both the absolute and relative quantities in order to accurately manage inventory levels. The absolute quantity should be updated regularly to ensure that it reflects the actual physical inventory. Additionally, it is important to monitor any discrepancies between the absolute and relative quantities in order to identify any potential issues with inventory accuracy. 
  
  Related Information: 
  The absolute quantity is closely related to other terms such as relative quantity, on-hand quantity, and available-to-promise (ATP) quantity. All of these terms are used in SAP's Logistics Inventory Management Engine (LIM) component and are important for managing inventory levels.