The procurement function is critical to ensure the necessary materials, supplies, and services are available when required. Maintaining strong vendor relationships, negotiating for favourable pricing, and analysing vendor performance can minimize costs through the increase in accuracy and efficiency in your purchasing department. Also, enjoy enormous savings of centralized purchasing by collating all of your group-wide purchase requirements into a central entity.
The My Requisitions option allows any users to raise purchase requisition. Users can create purchase requisitions, access the company’s Item Catalogue for General Purchases, or raise Capex, submit for approval and check the approval status.
Based on approved requisitions, The Requisition Management allows for the “purchasers” to compare prices followed by selecting the appropriate Supplier or Suppliers to purchase from, generate Purchase Orders or if prices are not available, generate Request for Quotations.
Supplier RFQ and Quotations
The Supplier RFQ and Quotations option tracks the status of RFQ’s prepared right through to receiving Quotations from suppliers. Supplier RFQ’s can either be entered manually, or generated from Purchase Requisitions.
The system tracks Quotations received from Suppliers in a centralized supplier quotation database. Validity periods of each quotation are tracked and maintained.
Supplier Comparison, Selection and Margins
Upon receiving quotations from Suppliers, users can utilize the Supplier Price Comparison & Selection worksheet to select the preferred supplier and costs.
Automatic Purchase Order Generation Users can save time by creating POs from an approved Requisition. The system generates POs based on the supplier and cost selected. Depending on suppliers selected, more than one PO can be generated per Requisition.
Purchase Order Management
In today’s competitive business climate, companies with effective procurement strategies are beginning to separate themselves from the competition. Successful purchase order management is now a critical core competency. Directly integrated with the Sales Order Management Module, the Purchase Order Management module is designed to provide full support for each step in the Purchase Order Management process.
Supplier Purchase Orders
Purchase Orders (POs) can either be entered manually or generated from Customer Sales Orders and Purchase Requisitions. The system tracks the status of each PO, from the time it is first created to the complete delivery of items. The system tracks Open Orders (newly created POs), Submitted Orders (POs sent for Approval), Approved Orders, Cancelled Orders, Orders On-Hold and Completed Orders.
Purchase Order Approval
POs can be submitted for approvals to relevant managers. The system will notify the approver via e-mail, who then logs into the system to provide his/her approvals.
Purchase Order Delivery Schedule
Delivery schedules for specific items within a Purchase Order can be entered. These can be changed if required.
Purchase Order Versions
Any changes to an approved Purchase Orders, which includes changes to quantities and prices, can be made via the creation of Purchase Order Versions. These changes must be approved.
Goods Receipt Note
The Goods Receipt Note option tracks the delivery of items by suppliers. Approvals are required for each Goods Receipt Note.
Goods Return Note
The Goods Return Note option allows for the entry of return of goods to Suppliers. All Returns will require approvals.
The following are some reports in the system:
The “Supplier Portal” is a centralized system for you to manage all your supplier business interaction requirements. Being a web–based, easy–to–use software solution, your supplies will be able to view purchasing transactions, invoicing, and the ability to respond to request for quotations.
Supplier User Management
The Supplier User Management allows for the administrator to create and manage User ID’s for each supplier contact person. These User ID’s are provided to suppliers to access the Supplier Portal.
The Supplier Dashboard is the first screen that a supplier accesses upon login. It contains summarized information that is pertinent for a supplier to follow-up on.
On sending RFQ’s from the Purchase Order Management Module, the system will automatically transfer the RFQ to the Supplier Portal, and notifications can also be set to alert the Supplier of its arrival in the portal. The Supplier responds directly to the RFQ from the Supplier portal.
Purchase Orders Awarded
Suppliers can view recently dispatched POs; outstanding deliveries as well as upload Delivery Orders.
Authorized supplier employees can update personal information—including personal contact information and company contact information. The changes are automatically reflected in the internal Supplier Management module upon approval, so your suppliers’ information is always current.