No valid production version found for material &

What causes this issue?

No valid production version could be found for the material you are
using or the BOM in the production verison is not valid.

System Response

The system terminates the creation of the production or process order.

How to fix this error?

Check the production versions that exist for this material and plant
with regard to the lot size interval, temporal validity and possible
locks and verify that the BOM is valid.

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.