Procurement Management
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Supplier Management
- Supplier Database: Maintain a comprehensive database of suppliers, including contact information, product catalogs, and performance history.
- Supplier Evaluation: Rate and evaluate suppliers based on factors like delivery time, pricing, and quality to improve vendor management.
- Supplier Portal: Provide suppliers access to a portal where they can submit quotations and receive purchase orders
Request for Quotation (RFQ)
- Create and Manage RFQs: Generate and send RFQs to multiple suppliers directly from the module, ensuring efficient procurement.
- Quotation Comparison: Compare quotations from different suppliers side-by-side to make data-driven purchase decisions.
- Automated RFQs: Automate the generation of RFQs based on stock levels or upcoming production needs.
Purchase Order Management
- Streamlined Purchase Order Creation: Create purchase orders (POs) directly from approved quotations or material requests.
- Multi-Level Approvals: Set up multi-level approval workflows for purchase orders to ensure compliance with internal policies.
- Order Tracking: Track the status of purchase orders from creation to delivery for better order management.
Purchase Receipt and Invoicing
- Goods Receipt Note (GRN): Record the receipt of goods and match them with purchase orders to ensure consistency.
- Purchase Invoice Creation: Create purchase invoices directly from receipts or POs for seamless financial integration.
- Partial Receipts: Handle partial deliveries by recording multiple goods receipts against a single PO.
Supplier Quotation Management
- Centralized Quotation Management: Manage and store supplier quotations for easy retrieval and comparison.
- Price List Integration: Link accepted supplier quotations to price lists for automated pricing during future purchases.
- Quotation Analysis: Analyze historical data to negotiate better terms with suppliers based on past transactions.
Automated Reordering and Procurement
- Reorder Level Configuration: Set reorder levels for products to trigger automatic purchase requests when stock falls below the threshold.
- Material Request Integration: Integrate with the stock module to generate purchase requests based on real-time inventory data.
- Supplier Linking: Link items to preferred suppliers for automated purchase requisitions and faster processing.
Purchase Planning and Budgeting
- Purchase Forecasting: Forecast future purchase needs based on sales trends, production schedules, and historical consumption.
- Budget Management: Track and manage budgets for purchasing to control expenses and avoid overspending.
- Planned Purchases: Plan purchases in advance for upcoming projects or peak demand periods to maintain stock availability.
Reporting and Analytics
- Detailed Purchase Reports: Generate reports on purchase orders, supplier performance, pending receipts, and procurement costs.
- Spend Analysis: Analyze total procurement spend and identify areas for cost-saving opportunities.
Integration with Other ERPNext Modules
- Inventory Integration: Ensure stock levels are updated automatically with every purchase receipt to keep inventory records accurate.
- Accounting Integration: Sync with the accounting module for real-time updates of financial records based on purchase transactions.
- Manufacturing Integration: Link with the manufacturing module to streamline the procurement of raw materials needed for production.
Compliance and Tax Management
- Tax and Duty Configuration: Configure various tax and duty structures to comply with regional and international tax laws.
- Automated Tax Calculations: Automatically apply taxes to purchase transactions based on predefined tax rules.
- Regulatory Compliance: Maintain compliance with local and international procurement regulations through integrated reporting tools.
Multi-Currency and Global Procurement
- Currency Conversion: Handle transactions in multiple currencies with automatic conversion for international purchases.
- Supplier Localization: Manage region-specific details, such as language and tax codes, for accountability and secure record-keeping.
Customizability and Flexibility
- Custom Workflows: Adjust purchase workflows to fit unique business processes with ERPNext’s flexible configuration options.
- Custom Fields: Add and define custom fields to purchase orders, RFQs, or receipts for tailored data capture and tracking.