Error reading material &1. Exception: &2

What causes this issue?

The system could not read material &V1&.

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?

Check and correct, if necessary, the entry.
Check whether the material number is blocked.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.