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Location master data in PP/DS

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Hello everyone, I have a question about location master data in PP/DS.

Would it be correct of me to say that 'a location master is a place where material planning takes place'?

Or is this definition too narrow? I want to know the essence of location master but

when I look at SAP HELP's definition of it it seems loosely defined.

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p391977
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A logical or physical place at which products or resources are managed on a quantity basis.

Locations belong to a certain location type. Examples of location types are production plant, distribution center, supplier, and customer.