Ref. stge location does not exist; correct your entry or it will be reset

What causes this issue?

While entering storage locations collectively, you have entered a
storage location as a reference. However, this storage location does
not exist yet for the material.

How to fix this error?

INCLUDE NA_EINGABE_PRUEFEN
If you have made a typing error, correct your entry.
If you do not correct your entry, it will be cancelled by the system.

Error message extract from SAP system. Copyright SAP SE.