Error while generating batch records

What causes this issue?

In Customizing for <LS>Batch Records</>, there is no overall profile
for material &V1& in plant &V2&. The system did not generate any batch
records.

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?

In Customizing for <LS>Batch Records</>, define the overall profile for
material &V1& in plant &V2& (activity <DS:SIMG.PPPI_PD_254>Define
Material-Specific Overall Profile</>).

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.