Version number can be a maximum of &2 characters long

What causes this issue?

The given length of the version number (&v1& characters) is so large
that there is no place left for the separator material/version number
and the material number.

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?

Correct the version number.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.