The PICKLIST is used at the time of doing PGI -outbound delivery, it helps us to identify what materials what quantity are to be picked from which storage location for purposes of executing delivery and subsequent Goods issue.
Whereas PUTAWAY list is being at the time of PGR- inbound delivery, goods return. This PUTAWAY list will let us know that what material, what quantity is returned with reference to which particular SO and delivery. The goods returned are isolated and put in separate storage location from your normal one and PUTAWAY helps there.
In short PICKLIST is for removing goods from your storage location while PUTAWAY is for placing goods back.
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