Material
Every good you manufacture, sell, or purchase requires a matching digital master record within the SAP system. Therefore, you create a material master or product master in the SAP system that contains all the necessary data.
The material master is a central component of the SAP Logistics.
Watch the following video to understand the material definition.
Product Master
In SAP S/4HANA you can work with the alternative user interface Product Master. A possible scenario could be:
You could start with the creation of a material inside the material master app, continue your work with the product master app, and then jump back into the material master app.