Procurement Management System
Procurement management is a form of management, where goods and services are acquired from a different organization or firm. It streamlines requisitions, sourcing, purchase request, quotation, purchase orders, and payments and lets you build excellent relationships with your suppliers.
It also manages ongoing supplier relationships and the transactional purchasing of goods and services.
PR is a lightweight web-form. Catalogs can be used to simplify the selection of frequently procured items. Purchase Request (PR) will be generated by staff and can manage based on the departments. Generated PR is then moved to the project manager for approval. They can either approve or reject the PR. After approved by the project manager, it will move to the procurement manager. In this department, the purchase request will be verified.
Assign PR to Department
Vendor decisions are usually made by the well-trained procurement department. There are 4 main departments under the procurement section:
- IT Department
- Logistics Department
- Admin Department
Here, the procurement manager, verify the PR and assign it to the corresponding department.
Send Quotations(Request For Quotation)
Once PR is properly created and approved, Request for Quotation (RFQ) is created and sent to all relevant vendors. An RFQ is a solicitation sent to potential suppliers/vendors. Vendor decisions are usually made by the well-trained procurement department. After quotes submission deadline procurement department can review quotes, reject inappropriate ones and select winning vendor. Winning quote details are used to create Purchase Order to use in further procuresment workflow.
In an RFQ, you ask vendors to provide the prices and delivery times for the item quantities that you specify. Vendors can reply to your RFQ by filling a form. Initially, the PR status is “pending”. When you receive bids from the vendors, the PR status will be changed to “In Progress”.
After you’ve identified the best quotation, such as the one that offers the best total price, you accept the quotation. You can accept some lines in a quotation and reject others. The status of the RFQ reply for the vendor that you accept quotations from is updated to Accepted and others are changed to Rejected.
Accept/Reject Local Purchase Order (LPO)
After multi-level approval, the purchase order can be generated. A purchase order is the official confirmation of an order. A copy is sent to the vendor. Vendors can approve or reject the LPO.
After that, it will go to the planning manager and in the end it will go to general manager, Once approved by the general manager, the status of PR is changed to “approved”. Once the vendor approves the purchase order they prepare the goods or services to be delivered.
In this system, we generate PR for products under different categories like IT – Laptop, Construction Materials, Software accessories, etc. If you need to purchase a new product under a category that is not available in this system, you have permission to add a new one. Also, you can do actions like view, update, and delete.
PR approval/rejection is the most frequent activity within the procurement lifecycle. These decisions are usually made by the well-trained managers under several departments. The following are the managers,
- Project Manager
- Procurement Manager
- Planning Manager
- General Manager
They all have permission to accept/reject the PR. PR is approved only when it is approved by every manager mentioned above.
The automated procure-to-pay process should eliminate potential bottlenecks in the procurement process by sending notifications based on tasks or vents. Alerts need to be configured in such a way that move tasks along the flow from onset to completion without needing a manual to follow up.
Vendor management is a structured program to manage suppliers and improve its impact on the buyer’s business. It includes managing vendor deliverables, working collaboratively to co-develop new processes, managing compliance.
Our Services Spread Across
We extend our services in UAE,Dubai,Qatar