What is inventory in SAP SRD-SCM-SCP - SCM-Supply Chain Planning and Control?

SAP Term: inventory

• Component: SRD-SCM-SCP

• Component Name: SCM-Supply Chain Planning and Control

• Description: All physical items held in storage for further use, for sale, or for internal company use. This includes raw materials, components, products, service parts, MRO goods, and items such as office supplies used by the company but not directly part of the production process.

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• Key Concepts: 
  Inventory is a term used in SAP Supply Chain Planning and Control (SRD-SCM-SCP) to refer to the physical goods and materials that are held in stock by a company. It includes both raw materials and finished products, as well as any other items that are necessary for the production process. Inventory is tracked and managed in SAP using the Inventory Management (IM) module. 
  
  How to use it: 
  Inventory Management (IM) is used to track and manage inventory in SAP. It allows users to view current inventory levels, create purchase orders, and manage stock levels. The IM module also provides tools for forecasting future inventory needs, setting reorder points, and tracking inventory movements. 
  
  Tips & Tricks: 
  It is important to keep accurate records of inventory levels in order to ensure that stock levels are maintained at an optimal level. This can be done by regularly reviewing inventory reports and adjusting reorder points as needed. Additionally, it is important to ensure that all inventory movements are tracked accurately in order to avoid any discrepancies between physical stock levels and system records. 
  
  Related Information: 
  Inventory Management (IM) is closely related to other SAP modules such as Materials Management (MM), Warehouse Management (WM), and Production Planning (PP). These modules work together to provide a comprehensive view of a company’s supply chain and enable users to effectively manage their inventory.