Procurement covers everything in your business that deals with any procedure that can affect the purchasing of products and services. This includes planning, purchasing, optimizing, receiving, and all the vendor billing and reconciliation processes that feed your accounts payables (A/P).
Purchase Orders - Can be created individually, or in bulk from the demand planner, with recommended quantity suggestions from replenishment formulas.
Purchase Orders from Sales Orders & Work Orders - Create purchase orders (POs) from within sales orders. You can also create a PO from within a work order (If you’re a manufacturer and need to purchase a portion of a BOM in order to satisfy a build).
Purchase Order Templating & Cloning - Clone any PO, or build vendor specific templates that inherit common line items and settings for reuse later.
Purchase Order Workflow Automation - Set workflow rules to automatically generate PDF versions of the PO which can automatically be sent out to your vendor.
Purchase Transactions - See purchase transactions from item and vendor record.
Requisitions - Requisitions such as pro-forma POs, can be added without impacting on-order inventory levels. If a requisition is finalized, it can be converted into a PO.
Add vendor relationships, with sub-relationships that group vendors by any category (handy if you do business with a lot of vendors).
Vendor Purchase Incentives - If a vendor offers purchase incentives based on purchase amount, weight, or quantity, you can set them from the vendor record, and view them from a purchase order to help influence the PO.
Lead Times - Add “Ship from” locations and link them to “Ship to” warehouses to set lead times by “ship-via”.
Here’s a list of things you can do once purchase orders are generated (in likely timeline sequence):
Consolidate multiple Purchase Orders by vendor - If there are many purchase orders going to the same vendor, before they’re sent out you can merge them into a single PO, in order to benefit from economies of scale.
Data-mine and optimize final cost / quantity by PO - Once purchase orders are structurally finalized, use the data mining wizard to analyze and recommend price and quantity improvements, using historical analysis.
Approval Workflows - Approve or decline requisition or purchase orders after they’re created.
Vendor Invoicing & Billing using AI - After your vendor ships an order and your warehouse receives it, BizAutomation uses AI to enable your warehouse team to automatically convert and reconcile vendor invoices (PDF, images, etc...) and purchase orders to provide QC validation, before concluding the PO with a vendor Bill. This ensures that bills reflect accurate value. It also increases the number of vendor invoices that can be processed in a day with the same resources.. more
Purchase Fulfillment (Individual & Batch) - Receive, Put-Away, and Bill from individual Purchase Orders, or from the Purchase Fulfillment Queue.
Landed Cost - After the purchase order is closed (which requires it be fully billed, received, and put-away), set landed cost, which contributes to your average cost formula by line item. The impact attributed from landed cost to each line item is allocated proportionately, taking into account cost per unit, units received, etc..
Vendor RMAs - After an item is received and put away, you’ll be able to generate vendor returns, with all the required modifications to inventory and accounting.
BizAutomation demand planning provides everything you’ll need to master the process of inventory replenishment. Analyze existing supply and demand across multiple dimensions to forecast future demand in order to improve order fill rates, resulting in optimal inventory balances.
The inventory replenishment process considers a variety of criteria and sources such as on-hand inventory, customer demand, supplier lead times, order release and expected dates, and replenishment formulas that calculate ideal quantities for mass requisitions, and purchase orders.
Material Resource Planning (MRP) - If you manufacture, BizAutomation demand planning will keep tabs on resources needed keep your build and bills of materials (BOMs) pipeline feed, by forecasting accurately in order to keep purchasing optimized.