Purchase management software reduce efforts and increase efficiency for correct planning regarding to what quality and what quantity of product is required, the proper time when the product is required, and a proper place where it’s required. Delay purchase affects the delivery of manufactured goods. Whereas, purchasing inadequate amount affects RM Stock and delivery deadlines. Storage blocks the capital while less hampers production.
Purchase Management system will streamline the procurement process both centrally and dispersed providing
control and delivering cost savings. It will maximise expenditure control and supplier effectiveness using
automated ordering, receiving and invoice. Online requisition note from various departments.
Entry amendment, review and deletion of purchase orders and returns
One purchase order can have multiple items
Direct invoice entry
Purchase order Entry, Order Confirmation
Quality Inspections – goods Accepted, rejected, partially accepted
Scrap & Wastage management
Receipt Transfer, Invoice Confirmation
Multi-level approval hierarchies.
Supplier Management - Supplier performance management for price, delivery and quality
Manage procurement, organize and maintain detailed vendor information, maintain a bid matrix, request for quote and comparison of the same, create purchase orders or generate POs from planned orders, manage requisitions and RFQS, and receive and inspect vendor shipments. Manage Sub contracting job and Import Management
Reduce Production Cost
An efficient purchase management software help reducing the production cost by avoiding unwanted expenses. Less investment in production leads high revenue afterwards .
Reduce the Lead Time
Proper purchase planning reduces or synchronizes the lead time .Lead time is that tentative time starting from manufacturing of the commodity ordered till its delivery to the customer.
Online Purchase management software is more reliable in calculating the quantities and other sort of analysis. Thus, online purchase management reduces human prone errors.
Being automated, online purchase management software help making reports regarding estimated purchase budget
and approximate expenditure involved. It is very necessary for an organization Improves
Improves Cash Flow
Purchase Management determines the supply of proper stock from the vendor. Purchasing the correct inventory in
the right amount to meet customer demand, while eliminating slow-moving, obsolete stock leads to higher profits
and better cash flow.
Purchase Management Software automates an organization in such manner where they can see scope of more revenue. Forecasting, controlling & managing inventory purchases increases productivity and sales, while reducing costs, resulting in greater profitability
Purchase Requisition : A purchase requisition form is a document used by a department to request that the purchasing department order materials or merchandise. In other words, this form is used by departments to notify the purchasing department that raw materials are needed for production or merchandise is needed for the sales floor.
Purchase Order : A purchase order is a legally binding document between a supplier and a buyer. It details the items the buyer agrees to purchase at a certain price point. It also outlines the delivery date and terms of payment for the buyer. Purchase order computer systems have made the purchasing process more efficient and allow for better inventory and payment tracking.
Purchase Enquiry : Purchase Enquiry is the inquiry floated by the customer for his requirements. Whenever any demand is raised for a product, interested person floats the inquiry and ask various vendors to come up with their proposal. Then, this inquiry is handled by the sales executives of the other organization, and requires follow ups and contacts.