What Are Product Group

How to create the Product group (with t-code) and which use the material group.  What's it benefit?

Answer:

Product Group Create    -> MC84
Product Group Display  -> MC85
Product Group Change  ->  MC86

Product group can use for planning, reporting and consolidation.

E.g. MD02,  MRP run with product group selection
       MD07,  Stock/Requirement list
       MF50,  Production Plan
       MD47, Evaluation of Product Group Planning.
       MD61,  PIR for products group etc.

Note:

When you are creating the product group using MC84 transaction, in the background it calls MM01 transactions but with just MRP views. 

Whereas when you are creating with MM01 transaction you can select the available views as defined for the material type "PROD" (in transaction OMS2), so you may end up creating additional views which are not really required.
 

Is there a way to delete a product group?

Answer:

You cannot delete the product group using T-Codes,

but you can delete the members you have assigned to it or change the members only.

But you can do so if you have access to t-Code SE16 and 

Go to database table = PGMI or PGPL 

and select the product group from it and select the line item and 

from the pull down menu options, 

select delete entry and you can delete it.

Or

Delete the members in the product group and then archive the product group in

transaction SARA, object=MM_MATNR.

SAP PP

SAP MRP

Read Also:
What Are Product Group

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

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SAP MRP - Materials Requirements Planning Configuration Hints and Tips 

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