What is 'procurement planning priority' in SAP SRD-SCM-MD - SCM-Master Data?

procurement planning priority - Overview

• Component: SRD-SCM-MD

• Component Name: SCM-Master Data

• Description: The preferential rating given to a source of supply, such as a production model or a vendor, to determine whether a product is manufactured in-house or purchased, and which production model is used to manufacture a product.

procurement planning priority - Details

• 
  Key Concepts: 
  Procurement planning priority is a feature in SAP that allows users to prioritize the procurement of materials. It is used to determine the order in which materials are procured and helps to ensure that the most important materials are procured first. This feature is part of the SAP SCM-Master Data component. 
  
  How to use it: 
  To use procurement planning priority, users must first assign a priority level to each material. This can be done by entering a numerical value in the “Priority” field in the material master record. The higher the number, the higher the priority. Once this is done, users can then use this information to determine which materials should be procured first. 
  
  Tips & Tricks: 
  When assigning priority levels, it is important to consider the importance of each material and how quickly it needs to be procured. For example, if a material is needed for an urgent project, it should be given a higher priority than materials that are not needed as urgently. 
  
  Related Information: 
  Procurement planning priority is just one of many features available in SAP SCM-Master Data. Other features include material availability check, material requirements planning, and inventory management.