Serial number profile is missing for material & in plant &

What causes this issue?

No <GL:serial_number_profile>serial number profile</> has been
maintained for material &V1& in plant &V2&.

System Response

The system does not allow you to maintain serial numbers for this item.

How to fix this error?

If you want to maintain <GL:serial_number>serial numbers</> for this
item, either enter a plant for the item, in which a serial number
profile already exists for material &V1& or maintain a serial number
profile for plant &V2& in the plant data of the material master record.

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

IF &[SWITCH]AD_SUB_SFWS_01& = 'X'.
INCLUDE ADSUB_ASN_SN OBJECT DOKU ID TX
ENDIF.

Error message extract from SAP system. Copyright SAP SE.