Work With Production Version Scenario

Is it possible to define more than one BoM for single Finished Good.  If possible, then during MRP how can system know which BoM for that finished Product will pick?

Yes, possible to create more than one BOM for single Finished Goods. For that case you need to work with Production Version scenario. 

See below more details about Production Version:

The production version defines the various techniques that can be used to produce a material.

A material may have several bills of material (BOMs) that determine the components used in its production. The production process can also be described in various routings. Data on the different methods or techniques used to produce a material is recorded in production versions which are assigned to the material.

A material can have one or more production versions. Data relating to individual production versions is located at plant level. You are free to define production version numbers as you see fit; however, each number must be uniquely identifiable.

Production versions allow you to cater for different situations:

Production using different resources (for example, two different production lines).

Production using different processes or procedures (for example, different task lists). The reprocessing of qualitatively sub-standard products is also conceivable.

Individual production quantities can be assigned to the different production versions, in order, for example, to achieve a balanced utilization of the various alternative production lines. This can be done by the user on an interactive basis, or automatically within the framework of the planning run.

A production version may encompass the following data:

Alternative BOM and BOM usage for BOM explosion

Task list type, group, and group counter for allocation to routings

Lot-size restrictions and period of validity

Production line on which production is carried out:

Scheduling work center, if this is not the production line, but a specific work center on the production line, for which scheduling is to be used. For this, you must have maintained a line hierarchy, from which the system automatically determines the scheduling work center.

Receiving storage location - this is the storage location to which the manufactured product is posted at goods receipt.

Proposal issue storage location - this is the storage location from which the components required are withdrawn and which is proposed when back flushing.

Read Also:
What Are Product Group

SAP PP Reference Books:
SAP Production Planning , Configuration, Interview Questions and Certification, Books

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