Material groups

Material groups are used to simplify data maintenance. They allow products with the same characteristics to be grouped together. Typically, product groups contain several products and are used to structure medium and large product catalogs.

If a characteristic is changed at product group level, this information is automatically passed on to the products belonging to the product group in the hierarchy. However, the characteristics can be overwritten again at product level.
This system supports you in data maintenance: characteristics of the product group apply to the majority of the assigned products and for the few products that require a different entry, we can simply overwrite this entry from the product group.

Practical example: Instead of changing the posting accounts individually for 100 products, the change can be made at merchandise category level and is automatically transferred to all 100 products in this merchandise category.

A product can be assigned to a merchandise category by simply selecting it from the Merchandise category field. The product groups have the following characteristics:

Details of the material groups

Description
The name of your material group

Sales margin %

Batch obligation / expiry date

Dangerous goods and dangerous goods class

Inventory valuation method
Calculation method of inventory prices such as moving average, last in - first out (LiFo) or first in - first out (FiFo)

Posting accounts

Here you can store the various accounts that are used in the procurement posting runs, depending on the categorization as
goods, raw materials and supplies, work in progress and finished goods.

• Inventory accounts

• Inventory change accounts

• Shrinkage accounts

Revenue accounts