Identify the goods and services to procure. Complete Purchase Orders and issue to suppliers. Agree on delivery timeframes and methods. Receive goods and services from suppliers. Review and accept the items procured. Approve supplier payments.
Every document of PR, PO, GRN etc. has to pass through an approval process. The approval process can be just defined to auto approve or can be a matrix of upto 25 approvers. Multiple approval processes can be defined within a document type, based on the total amount of the document. Example a PR with total amount from Rs. 0 to 1000 can be using a different approval workflow from a PR from Rs. 1000 to 20000.
A process of vendor rating is essential to effective purchasing. Vendor Evaluation supports us in procuring both materials and external services, by making use of data. Vendor rating is a system for recording and ranking the performance of a supplier in terms of a variety of issues, which may include price and the quality of the items. Purchase orders are automatically placed to vendors based on their rating. This system calculates Vendor ratings based on the quality of the product, price and invoice credit period.
The organization as a whole can have a huge list of items that it deals with as part of its supply chain. Categorizing items in catalogues helps the procurement process to be simpler and user friendly.
The purchase request (PR) process starts with selection of items from product catalogue. Purchase requests are raised department wise. Once the purchase request is ready the purchase request is sent for approval. After purchase request is sent for approval the document becomes non editable. After sending for approval the approver can either approve the purchase request or reject it. Rejected purchase requests can again be edited for correction/s and then be sent for approval.
The purchase order (PO) is generated from one or more Approved purchase requests. The vendor of the PO is picked up automatically based on the rating of the vendors. Only users with specific roles are allowed to generate PO. After the PO is generated the status of the PR/s turns to “Converted to PO”.
The Goods Receipt Note (GRN) is generated from an approved PO and when the goods have been received. The GRN displays the PO quantity against which the user is expected to fill the received quantity, accepted quantity and the invoiced quantity. Finally when the GRN gets approved the bin locations of the products in the GRN gets updated. The UOM (Unit Of Measurement) gets changed from the vendor specific UOM to bin location UOM.
Stock Issue Note: Allows to issue stock from a store for consumption. Stock Transfer: Allows transfer of stock between two store locations. Stock Adjustment: Allows adjustments of quantity of a product(SKU) if the physical quantity does not match with the system quantity.
We are happy to talk you through any projects or run live demos for those wishing to see what it is to use our products and how they look like.
