Material &1 not found in supersession chain

What causes this issue?

Material or supersession chain or the FFF-class &V1& was not found.

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 if necessary, correct the entry.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.