SAP FICO
In SAP, FIFO (First-In, First-Out) is an inventory valuation method where the oldest inventory items are assumed to be sold or consumed first. This means the value of the remaining inventory is calculated based on the costs of the most recently acquired items, according to the SAP Help Portal. SAP implements FIFO valuation through its Material Ledger, allowing for the calculation of FIFO prices and updating them in the material master record
SAP SD
SAP SD, or Sales and Distribution, is a crucial module within the SAP ERP system that manages all aspects of the sales process, from customer inquiries to billing and delivery. It integrates with other modules like Materials Management (MM) and Production Planning (PP) to streamline the entire order-to-cash cycle.
SAP MM
SAP MM, or SAP Materials Management, is a module within SAP ERP Central Component (ECC) that focuses on managing materials, inventory, and warehouse operations. Its primary goal is to ensure an organization has the right materials in the right quantities at the right time and place, preventing shortages and supply chain disruptions.
SAP HRM
SAP HR, also known as SAP Human Capital Management (HCM), is a comprehensive module within the SAP Enterprise Resource Planning (ERP) system designed to manage and optimize human resource processes within an organization. It encompasses various aspects of HR, from employee data management to talent management and payroll.