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Procurement Management

How Procurement Management can work for you

Our application has a module called distribution, which manages all the requirements for procurement. Distribution Management Module allows users to manage sales orders, track inventory, fill orders, improve purchasing, and provide customer support from anywhere. Distribution Management is integrated with all other modules within the Solution.

The module is a true 100% web based. It is fully integrated with the Accounting & Finance module due to the fact that it is done using the same platform. The system is capable of handling the purchase of stock, non-stock as well as services types of items. The items can be pre-defined in the stock / inventory option and they can be used or selected during the procurement data entry. Apart from that, should there be any free form (or one-time) type of items, it can be manually filled up during the transaction entry.

Purchase Requisition (PR)

The Purchase Requisitions module, a part of the Distribution module, incorporates the functionality that makes it possible for your company to create, process requests for goods and services, approve requests, and prevent cost overruns. The Purchase Requisitions module provides configurable, budget-compliant request documents. Also, the module facilitates an efficient bidding process.

The Purchase Requisitions module is integrated with the financial modules, as well as with the Inventory and Purchase Orders modules.

Our solution provides two types of request documents that users can in ways that meet their processing requirements:

• Requests can serve as a starting point in procuring goods and services, with the system verifying that the estimated total cost of the request is on budget and that the document gets all needed approvals. For request

documents, you can specify the request class, items, shipping instructions, vendor information, approval details, budget details, bidding details, and document owner. Request classes, described below, can make it easier for users to enter requests quickly.

• Requisitions help users to request goods and services and can facilitate the bidding process and the creation of any needed customer quotes, purchase orders, and sales orders. Generally, employees who are responsible for purchasing create requisitions. These employees can convert requests into requisitions and make needed changes, such as selecting a different vendor from the one specified for the request. Only using a requisition can fulfil a request.

By using these two types of documents, you can organize the request process to meet your company’s needs.

Purchased Order (PO)

Reduce costs and improve vendor relationships by automating and centrally managing your global purchasing processes.

The Purchase Order Management (PO) module streamlines your procurement processes to ensure a steady supply of materials while enforcing policy and process controls.

• Submit purchase orders which are received to multiple locations. Specify drop shipments or blanket orders.

• Create multi-level approval paths to match existing business processes.

• Print or email purchase orders.

• Receive partial orders or consolidated orders.

Key benefits of Procurement Management for your business

Automatic creation of purchase orders

Our solution automatically generates purchase orders based on the inventory stock level and the replenishment algorithms. Orders are placed with the vendor that best meets the price and delivery time requirements that you specify.

Multi-level approvals

Create approval rules based on the type of order, vendor information, order amount, and other order specific information. Require approvals before printing or emailing purchase orders.

Blanket orders

Aggregate several orders to receive a volume discount or stock hard-to-get items. As you enter orders, our solution automatically checks for open blanket orders and provides the option to link to them.

Work from Anywhere

Create, approve, and receive purchase orders from anywhere using any popular web-browser

Enforce Policies and Processes

Control spending and enforce business processes by configuring multi-level approvals based on criteria that you define.

Reduce Acquisition Costs

Manage purchase orders to get the highest possible discounts. Create blanket order to maximize discounts and create drop shipments to minimize warehouse storage costs.

Improve Operational Efficiencies

Automate your entire supply chain by eliminating repetitive data entry and errors. Advanced security and browser-based access makes it easy to include suppliers, receiving, accounting, and other departments in any geographical location.

Enforce Policies and Processes

Improve purchasing decisions by using drill down reports and dashboards to gain access to past information and provide insights into future needs.

Additional features of Procurement Management

  • Partial and consolidated receipts
  • Simplified item tracking
  • Automatic payment vouchers
  • Drop shipments
  • Landed cost
  • Vendor selection and performance analysis
  • Multiple ship to addresses
  • Partial and consolidated receipts

    Track when purchase orders are received. Orders can be partially filled, completely filled, or consolidated from multiple purchase orders into a single receipt. Pricing information can be modified during the bill entry in Accounts Payable and the difference will be posted to the designated variance account..

    Good Received Notes (GRN)

    GRN in our solution is referred as Purchase Receipts where users can view the existing purchase and transfer receipts and returns. User can also create a new purchase receipt or return based on a purchase order (or lines of purchase orders) and release the document.

    A purchase receipt is used to track the one-time receipt of goods purchased from a single vendor. User can use purchase receipt to verify the fulfillment of the purchase order or orders in which the received goods were ordered. As such, a purchase receipt must be linked to the applicable purchase orders.

    When goods are received, user can create a new document with the Receipt type by using the Purchase Receipts, which is also used for processing purchase receipts on per document basis. On the Document Details tab, you add lines to specify the quantity and additional details of all received goods. If lot or serial numbers are traced for the received items, they may be assigned at the time of receipt if configured so.

    If purchase orders are involved in your purchasing workflow, user can create purchase receipts, which are based on purchase orders or linked to purchase orders or particular lines in the orders. If the goods or services received were previously ordered with a purchase order, user can create a receipt for this particular purchase order, by clicking Actions > Enter PO Receipt on the Purchase Orders Screen.

    Alternatively, when you receive purchases from a single vendor and create a new purchase receipt by using the Purchase Receipts Screen, users can add one or multiple purchase orders to this receipt; also, can add particular lines from purchase orders. The status a new receipt will be saved as hold which is then ready to follow the workflow determined by the company for approval.

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