Group ID &1 not defined in external number range interval [PIC_PICNUM]

What causes this issue?

The number of the supersession chain or the FFF-class &V1& does not
exist in the number range interval.

System Response

For numer range object PIC_PICNUM, the number range interval does not
contain the number &V1&.

How to fix this error?

Check, and if necessary correct, the entry.
Check the number range object <DS:TRAN.PICNUM>Number range object
maintenance</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.