User department can check availability of stock online and either have the product issued from stores or indent for fresh procurement. If the on – hand balance does not cover the requirement, the system creates a purchase requisition and forwards it to the purchase department for further action. The
requisition has access to the information on pending for approval, pending orders, pending indents along with current stock to avoid replication of indent for same requirement.
The Indent requisition can specify the product manufacturer, delivery period and the budget to the purchaser.
Indents are also generated automatically during the Material Requirement planning.
Rules can be configured and enforced so as to make indents mandatory for products, class of products, suppliers.
Workflows can be configured to ensure that the necessary approvals for the indents are in place before the Purchase Order is created.
A single purchase request can contain one or more items; if the item requires an authorization from different departments, it automatically splits the indent and forwards it to concerned department through Vision Work Flow.
The requisition can provide for additional item details like purity, tolerance preferred packing size.
The system ensures that the indents are not closed till all the requisitioned material is available in the inventory.
Purchase orders can be referenced with Indents, Enquiry Numbers,Vendor quotations or Purchasers can create unreferenced Purchase order. Multiple Indents can be referenced to a single Purchase order.
Vision provides vital information to users so that they can take an informed decision before placing an order
– List purchase rate of the item
– Stock position of the item
– Open Purchase orders pending delivery for the item.
It can also be configured to validate to ensure that orders can be placed to only approved vendors. Purchasers can also provide an Item – Vendor mapping to ensure certain items can be purchased only from a predefined list of vendors.
Purchase order values are compared with budgets and the system warns or restricts the confirmation of the Purchase Orders if the budgets are exhausted.
Vendors, with a large basket of products, provide an agreed price list to their customers. This price list can be uploaded in Vision and the system ensures that all purchase orders to the vendor are executed on the agreed price list.
Workflows can be configured to ensure that the necessary approvals for the Purchase order is in place before the Purchase order is confirmed to the supplier.
If the need arises Purchase orders can be amended with constraints and restrictions imposed by the organization.
Vision has a provision to create Purchase Contracts with vendors for supply of contracted rate, quantity, under certain terms and conditions for a specific period of time. These details are then used to “release” purchase orders against the contract to the vendor. All the details from the purchase order get populated from the Purchase contract to the Purchase order thereby eliminating repeated data entry, ensuring accuracy and adherence to the purchase contract.
Vendor supplies and inward material are accepted through the Purchase receipt transaction. The system ensures that there is a valid Purchase order referenced with each material inward.
It has options to record the Vendor “documented” quantity and the actual realized quantity at the time of the receipt. Thus recording for any excess or shortages provided by the vendor. Any additional costs incurred towards the purchase of the items can be loaded to the inventory during Purchase Receipt, like taxes, freight, commissions, incidental charges, additional duties and levies or any other costs.
Workflows can be configured to ensure that the necessary approvals for the Purchase Receipt are in place before the Purchase receipt is confirmed
Vision MRP helps you to optimise the inventory and manage stock out and you manufacturing requirements. Vision scans the products demand for a time period from open Sales orders, Forecasted sales, Other Demand nnd matches with supply from Inventory of Saleable finished goods across locations, Open Purchase orders with vendors ,Material in Transit, Products under Manufacturing and WiP
Material received in stores location may have to be returned to the supplier for:
– Variance with PO terms and conditions
– Rejection of materials by Stores before QC approval
– Rejection of material by QC for non conformations to standards and tolerances
– Rejections on Production line
– Non performance of performance guarantees and warranties
Material can be returned by the Purchase Return option and Vision makes the requisite changes in the inventory, Order status, Accounts Payable according to business rules defined, when a Purchase return occurs.
Materials can be rejected only by designated authority along with justification for the rejects, which are communicated to the concerned vendor.
The system has options, for a vendor to provide replacement for rejected goods or credit note to reduce its payable position.
The “Purchase Return” module ensures the necessary entries are made in all the effecting modules and the Accounts Payable modules.
Payments are executed on confirmed payable transactions. Multiple payables can be clubbed to single payment to the supplier. Payments can be kept on hold before confirmation. The system also has a provision to cancel payments created.
Payments can be confirmed or approved through a workflow that ensures that the approvals required for payment to the supplier have been adhered to.