MM (Material Master)

In procurement, Material Master (MM) is a system-level master data management process that focuses on collecting vital information related to products and services for streamlined ordering, tracking, and inventory purposes. MM helps organizations keep track of all relevant data on materials, such as cost and availability, in a centralized repository, allowing the organization to streamline its processes and maintain data accuracy. By integrating MM with other systems, terms such as price comparisons can be optimized easily and records can be quickly updated as needed. Furthermore, companies are able to reduce manual labor related to keeping up with material information, enabling them to expedite ordering and delivery timelines.