Dear Bhasker,
Yes this is possible & see following example for your consideration .
A.Within two company subcontracting process:-
Case:- Suppose Company code A is sending material to Company B for Job work process.
1. Subcontracting process in MM
Step1:- Create subcontracting PO for vendor B in plant A for Material (FG or SFG) & assign component as require. Send component material to vendor B with 541 .
Step2:- Now in plant B create non valuated material (UNBW) & do GRN with 501 do your process .
Step3:- Create sales order for Customer A for FG/SFG & do delivery from plant B.
Step4:- Now do GRN for subcontracting PO .
Note:- Plant B is used for job work process so always do GRN with 501 (W/O PO) to increase stock, because they are not purchasing material (only do job work processing) they can apply processing charges by sending sales invoice to Company A doing simple sales order delivery & billing.
2. Same can be done through PP subcontracting process.
For this process you need to maintain control key PP02 to subcontracting operation which is assigned in routing. Also need to maintain subcontracting TICK in operation details External processing tab with vendor info record(without material). When you create production order system will generate PR for that operation .
PR generated through production order can be converted into PO & after GRN of PO GRIR account will be credited by activity rate given into PR or PO . Then vendor will credited after invoicing. simply confirm Operation.Also you can able to see this confirmed quantity & price ,vendor in COOIS in operation overview.
Same can do for inter plant subcontracting process .
Also you can achieve this by using some special procurement keys in material master as per requirement.
second option was is explained by all expert since just briefly explained.
Hope this will useful for your business requirement.
Regards
Shyam