Production version & for material & and plant & does not exist

What causes this issue?

The production version &V1& is not defined in the material master record
for material &V2& in plant &V3&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

If necessary, maintain the producton version for material &V2& &V3&.
You can maintain the production version from the MRP/work scheduling
data screens of the material master record.

Error message extract from SAP system. Copyright SAP SE.