Hey Max, yes, you would use a plasticity material model. Yes, you only take data from the force-displacement curve up to the maximum value. The stress-plastic strain data table will use the last value for larger values of plastic strain in a simulation where the plastic strain exceeds the last value in the table. In a tensile test specimen, that model is sufficient to see the typical necking behavior which reduces the force output at large displacement. See what happens in your compressive simulation.
I recommend the following two courses:
https://courses.ansys.com/index.php/courses/topics-in-metal-plasticity/
https://courses.ansys.com/index.php/courses/topics-in-metal-plasticity/lessons/how-to-define-a-multilinear-hardening-plasticity-model-lesson-1/
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