We can verify vendor LIV in 4 ways
- Invoice
- Credit memo
- Subsequent debit (Transport charges)
- Subsequent credit (return poor quality materials to vendor)
Overview of LIV
Logistics Invoice Verification
We can verify vendor LIV in 4 ways
We can verify vendor LIV in 4 ways
Overview of Evaluated Recipt Settlement
Evaluated Receipt Settlement (ERS):
Vendor does not have to send an invoice, based on the quantity received the system will generate the invoice automatically.
Vendor does not have to send an invoice, based on the quantity received the system will generate the invoice automatically.
Special Stocks
Special stocks include
- Pipeline
- Consignment stock
- Sub-contracting
- Stock transfer
- Third party processing
Info on Inventory management
"Managing stock of materials on a quantity and value basis is known as Inventory management"
Inventory management Integrates
Inventory management Integrates
- Purchasing
- Logistics Invoice verification
- MRP
- Production, etc
Types of Stock
There are 4 types of stock under which all the areas fall under.
4. GR blocked stock - This type of stock is a valuated stock of the vendor.
- Unrestricted use stock
- Quality Inspection stock
- Blocked stock
4. GR blocked stock - This type of stock is a valuated stock of the vendor.
Overview of Purchasing records (selected fields/selected screens)
Purchasing defines the procurement of either a material and/or services. It can be either external or internal.
w.r.t materials, it can be for stock purposes or consumption purposes.
The purchasing document types can be of Internal (for PR) or external (RFQ, PO Quotation, Contract and schedule agreement)
w.r.t materials, it can be for stock purposes or consumption purposes.
The purchasing document types can be of Internal (for PR) or external (RFQ, PO Quotation, Contract and schedule agreement)
Overivew of Vendor Master (selected fields/screens)
Organization Levels: Company code, Purchase Org
Pricing date category: Determines which date is to be used for price determination
Incoterms: Used when doing Import and export
Accounting group:
Pricing date category: Determines which date is to be used for price determination
Incoterms: Used when doing Import and export
Accounting group:
- LIEF for External vendor number assignment
- KRED for Internal vendor number assignment
Material Master and Material Master records
From MM point of View ( Plant, Purchase Organization, Storage Location) there are 4 types of Material Master records
1) Material Master
2) Vendor Master
3) Purchase Master Records
4) Service Master
1) Material Master
2) Vendor Master
3) Purchase Master Records
- Purchase Info record
- Source List record
- Quota record
Association of Material Master with other functionality of MM
The following is a pictorial representation of a Material within other functions inside Materials Management.
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