Purchase Order Management
Streamline your procurement processes, simplify item tracking, manage drop shipments, and automate replenishment to ensure a steady supply of materials while enforcing policy and process controls.
How Purchase Order Management can work for you
A purchase order system from GRP helps you reduce costs and improve vendor relationships by automating and centrally managing your global purchasing processes. GRP’s online sourcing automates the entire procurement process from vendor quotes to paying invoices.
Key Benefits of Purchase Order Management for your Company
Automatic Creation of Purchase Orders
Automatically generate purchase orders based on stock level and inventory replenishment algorithms. Orders are placed with the vendor that best meets the price and delivery time requirements that you specify. Automatically generate drop shipment purchase orders from open Sales Orders.
Approval Workflows
Create approval rules for various order types, vendors, order amounts, and other order-specific information. Control document release using predefined approval processes.
Partial and Consolidated Receipts and Vouchers
Track receipts, whether – partially filled, completely filled, or consolidated from multiple purchase orders into a single receipt. Automatically create accounts payable vouchers from receipts. Consolidate multiple rejects into a single voucher and multiple invoices from a single receipt. Modify pricing during the invoice entry in Accounts Payable with automatic variance posting in General Ledger. Link returns to purchase receipts, updating inventory with the correct item cost and reason codes.
Important Features Of Purchase Order Management
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. You can modify pricing information during bill entry in Accounts Payable, and the difference will be posted to the designated variance account.