Consignment Setup – Error in Cost Accounting "The Item Cost Profile Was Not Generated

Summary:

Help Needed with Consignment Setup – Error in Cost Accounting "The Item Cost Profile Was Not Generated

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I’m working on setting up consignment processes in Oracle for a client who operates as both a consignor and a consignee. I've completed the following configuration and setup steps:

1. Configured Procurement Business Function: Consignment Terms
2. Configure Supplier: Enabled "Pay on Use" for the supplier.
3. Set up Item as Consigned.
4. Process Steps:
   • Created Consignment Agreement.
   • Created Consignment Order.
   • Received Order in Inventory Module.
   • Created Transfer to Owned Transaction.

However, I encountered an error in the cost accounting process stating that "The item cost profile was not generated."