Introduction:
The SAP ERP system features a module called SAP MM, which provides comprehensive capabilities for managing materials and services. It is intended to assist companies in purchasing and controlling materials, services, and stock so that the management is done in an efficient and economical way. SAP MM is considered a component of the SAP ERP system, and it is highly interwoven with other modules like SAP FI/CO, SAP SD, and SAP PP.
Features of SAP MM
SAP MM offers various functionalities that help organizations to manage their procurement and inventory procedures in an efficient way. The main highlights of SAP MM involve the following elements:
· Procurement: SAP MM has a detailed procurement process that helps the organisation in controlling its purchasing operations, which includes requisitioning to paying.
· Inventory Management: SAP MM helps the organization to track the stocks and optimise the usage of the inventory and maintain the stocks.
· Material master: SAP MM offers a material master record that has detailed data of materials, such as description, classification and data of purchasing.
· Vendor Management: SAP MM provides an organization with the facility to manage their relationship with their vendors, vendor assessment, vendor contracts and payment.
Benefits of SAP MM
Numerous institutions provide SAP MM training. The SAP MM Online Training Fees vary from one institute to another, but it is a really good investment. SAP MM offers numerous benefits to organisations, including the following:
· Enhanced Procurement System: SAP MM also assists in simplifying the procurement process of any organisation. Thus, cutting time and effort when acquiring materials and services.
· Greater Efficiency: SAP MM computerizes numerous activities in the process of procurement and the management of inventories, minimising chances of errors and making everything successful.
· Improved Inventory Rationalisation: SAP MM helps companies to rationalise their inventory balances according to the demands, resulting in a reduction in stock and overstock.
· Better Vendor Management: SAP MM also allows an organisation to improve their relationships with their vendors in regard to improved communication and reduced vendor-related problems.
SAP MM Process Flow
There is a huge demand for SAP MM professionals in cities like Noida and Delhi. Therefore, enrolling in the SAP MM Training in Noida can help you start a career in this domain. The flow process in SAP MM is usually followed in the following way:
· Requisitioning: The source of the procurement lifecycle begins with a requisition or a request for materials or services.
· Purchase Order: After a requisition is approved, it is followed by the creation of a purchase order, which is a formal document that states the terms and conditions of purchasing.
· Goods Receipt: A goods receipt that changes the inventory levels is made when the materials or services are received and the payment is started.
· Invoice Verification: Invoice verification is the last stage in the procurement process, and in this stage, the organisation verifies the invoice and sends payment to the vendor.
SAP MM Integration with Other Modules
The SAP MM Certification Cost generally ranges from Rs. 20,000 to Rs. 85,000 in India. Investing in this credential ensures that you can integrate SAP MM with other modules. The SAP MM module is highly connected with other SAP modules, such as the following:
· SAP FI/CO: SAP MM has to be linked to SAP FI/CO, and this allows an organisation to manage its financial transactions and accounting processes.
· SAP SD: SAP SD is involved with SAP MM and forms an integrated process that helps an organization to manage its sales and distribution processes.
· SAP PP: SAP MM combines with SAP PP, which allows any organization to control the process of planning and controlling its production.
Conclusion
SAP MM is a great application that can assist organisations in maintaining good procurement and inventory activities. It is an elaborate solution giving a variety of features and advantages such as a better procurement process, more efficiency, better inventory management and better management of the vendors. Through SAP MM, an organisation is able to streamline the processes in its supply chain, save on expenses, and achieve efficiency.
