What is WM in SAP
The Warehouse Management (WM) application provides flexible, automated support to assist in processing all goods movements and in maintaining current stock inventories in the warehousing complex. Wealth Management Module in SAP (WM Module in SAP)
SAP WM Module Overview
SAP WM begins as a sub-module of the SAP Material Management module which takes care of Warehouse Management functionality. Warehouses can be managed efficiently at the bin location level using the SAP WM module. Presently, SAP WM had been re-classified under the SAP Logistics Execution module. SAP wealth management
The SAP Warehouse Management module of SAP R/3 provides flexible, efficient, automated support that enables your business to- to manage complex warehouse structures- define and manage storage areas and storage bins in the warehouse- manage several different types of storage, such as high rack storage, block storage or fixed bin storage- process all relevant postings and transactions such as goods receipts, goods issues, and general stock transfers.- monitor stock movements- execute stock placements and removals using different put-away and picking strategies- process stock differences- manage hazardous materials- use bar code scanners- interface to external non-SAP warehousing systems- manage inventory at the storage bin level- ensure that stock posted in the Inventory Management system is the same as the stock in the warehouse- integrate with materials management, product planning, quality management, and sales and distributions primarily aims at defining and managing complex warehouse structures within a company.
The following points must be considered when implementing the SAP R/3 WM module:- Path optimization for:– stock placements– stock removal– stock transfer (for example, replenishment)- Even utilization of warehouse capacity- Balanced utilization of warehouse personnel- Possibility for improvement in warehouse stocking- Handling of means of conveyance for stock placement and stock removal- Possibility for improvement of work papersThe SAP Warehouse Management module is one of the effective tools available to manage warehouse and keep inventory at an optimum level. But it is just a business tool and you need a skillful craftsman who can understand your company’s needs and satisfy them using the tool. The potential of the tool must be extracted fully for the best results.
The SAP Warehouse Management module
- Definition and mapping of the physical warehousing structure in the system
- Processing goods movements like – receipts, issues, and stock transfers
- Maintain up-to-date stock inventories in the Warehousing complex at the storage bin level
Warehouse management is integrated with Material Management (MM), Sales & Distribution (SD), and Quality Management (QM) modules. The base document for the material movement will be generated either in the MM or SD or QM modules. For all the Goods receipts (GR) from the vendors and other plants, the base document will be generated in the MM module. For Goods Issue (GI) for either production or to other plants, the base document will be generated in the MM module.
As quality management is active in the organization, all the materials will pass through the quality inspection process during the GR and GI, and the post-change document (change in the stock type of the material stock i.e. either from quality inspection stock to unrestricted, etc) will be generated in quality management for the placement or removal of material in the warehouse.
During the GR quality inspection process and online inspection process during production, the base document to return the material to the vendor will be generated in the QM module. For the delivery of goods against sales orders, the delivery document will be generated in the SD module for the removal of the material from the warehouse. For handling the customer return materials, the base document will be generated either in the SD module. The inventory will be managed both at the storage location level in the Inventory management (IM) level in the MM module and at the bin level in Warehouse Management. WM module also has RFID & Barcode reading functionality. These can be explored & implemented in the future as a separate project.
SAP Warehouse Management Module Process Flow is as follows:
- Define and manage complex warehousing structures
- Optimize material flow using advanced putaway and picking techniques
- Process goods receipts, goods issues, and stock transfers quickly and easily
The Warehouse Management application is fully integrated into the SAP R/3 system. Transactions that are initiated in other SAP components result in corresponding tasks in WM which activate the actual physical transfers within the warehouse.
A few of these activities include:
- Material movements and changes in material status, such as releasing goods from inspection
- Material staging to production supply areas
- Picking and shipping goods for sales orders
Warehouse Management (WM) helps to identify the stock status of material at the bin level. It is a tool to assist in processing all goods movements and maintaining inventories. Warehouse Management (WM) processes are initiated by inventory management. Apart from that, it is integrated with SD, QM & PP to function as one ERP system.
Download the document on Warehouse Overview which covers some of the core warehouse concepts, terminologies, movement types, and some of the strategies to manage the warehouse efficiently.
Functions of SAP Warehouse Management
The SAP warehouse management is able to control virtually anything that comes and leaves the warehouse and how fast or slow that is. However, for the sake of clarity, important specific functions of the SAP warehouse management system (WMS) are as follows.
- It is able to manage the structures of the warehouse no matter how complex they are.
- SAP WM is able to monitor the movement of stock and process their differences.
- Allows for easy management of potentially hazardous material.
- SAP WM is able to make use of barcode scanners hence making the entire process of inventory much easier.
- SAP warehouse management is able to process all transactions that are carried in the warehouse including the goods receipts, issues, and any stock transfers.
- SAP WM manages inventory at the storage bin level making it less hectic and more manageable.
Conclusion of Wealth Management Module in SAP:
The Wealth Management module in SAP provides a comprehensive solution for financial institutions and wealth management firms to effectively manage their client’s investments and assets. It enables businesses to streamline portfolio management, investment planning, asset allocation, and client reporting processes. With SAP’s Wealth Management module, organizations can gain a holistic view of their client’s financial positions, implement personalized investment strategies, and deliver exceptional client service. The module offers robust tools for risk assessment, performance monitoring, compliance, and regulatory reporting, ensuring adherence to industry standards. By leveraging SAP’s Wealth Management module, businesses can enhance their decision-making capabilities, improve operational efficiency, and deliver superior wealth management services to their clients.
