purchase value key
please explain about purchase value key in MM. how to create and maintain in MM. please explain steps to perform with the object?
Purchasing Value Key is useful for setting reminder for the material you can find in material master in Purchasing view.
Purchasing value key determines the following things:
1) Reminders keys- There are 3 keys which determine in how many days before or after the vendor has to be reminded or urging letters for the material procurement.
2) Over and under deliveries tolerances.
3) Order acknowlegdement requirements in PO.
It gives all the conditons in which the procurement is made. You can have different purchasing value keys which has to be customized in IMG - MM - Purchasing - MM - Define Purchasing Value Keys / OME1 Trxn code.