Procurement
The procurement process is essentially workflow or process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, either by tendering or competitive bidding process.
Procurement Process Involves Different types of Procurement Catalogs, Categories. Procurement Request can be done as per required Products present in the Catalogs and proceeds with Requisition, RFQ, Purchase Order etc.
Scope included in Procurement Module
- Procurement module helps to define and maintain Catalogs for different types of products as per categories.
- Requisitions are raised from Procurement request.
- Request for Quotation is done which helps choosing the appropriate vendors to fulfill procurement needs , it includes vendor ratings, cost comparison, company policies (Terms).
- Approved purchase requests become POs, while rejected requests are sent back to the requisitioned with the reason for rejection.
Configuration
Requisition Process
- Add / Amend Requisition
- Approval of Requisition if Vendors and Rates are Fixed
- Add / Amend RFQ for Requisition
- RFQ Submission to Vendors
- Adding Responses Received from Vendors to RFQ Responses Record
- Select RFQ Response Any Mapping Against Requisition
- Progress & Completion
- Manage Requisition Cancellation
- Notify About Cancellation of Requisition for Related Purchase Order Record
Purchase Order Process
- Add / Amend Purchase Order
- Creation of Purchase Order Against Selected Requisition
- Add Products to Purchase Order Line or Copy From Existing Requisitions
- Submit / Email Purchase Order
- Progress, Status and Closure of Purchase Order Depending On Items Received Against the Same
- Progress & Closure of Purchase Requisition