INFOR CLOUDSUITE PROCUREMENT & PURCHASING MODULE OVERVIEW
Purchase Requisitions: This feature allows users to create and submit requests for purchasing goods or services. It includes the ability to include detailed descriptions, quantity requirements, preferred suppliers, and required dates. Requisitions can be routed for approval based on an organization’s hierarchy or rules, and alerts or notifications can be sent to keep all relevant parties informed of the status.
Purchase Orders: The system supports direct creation of purchase orders from approved requisitions. Detailed tracking of all purchase orders, including full histories and audit trails, can be maintained. You can send POs directly to suppliers via email or EDI (Electronic Data Interchange) straight from the system.
Supplier Management: The system can store comprehensive information about suppliers, including contact details, tax identification numbers, and financial information. It can track and evaluate supplier performance based on factors such as delivery reliability, quality, and cost effectiveness. This data can inform decisions on supplier selection and negotiation.
Automated Procurement Processes: Workflow automation reduces the need for manual intervention in procurement processes. This could include automated conversion of requisitions to POs, order generation based on min-max inventory levels, approval workflows, three-way matching of invoices, packing slips, and purchase orders for accounts payable, etc.
Inventory Management Integration: The integration with inventory management is crucial to ensure stock levels align with purchasing decisions. The system can alert when stock levels fall below a certain point and trigger re-ordering to prevent stock-outs. It also helps in maintaining a lean inventory, thereby saving costs.
Spend Analysis: A comprehensive spend analysis tool can track and categorize procurement spending. This can provide insights into spending trends, identify opportunities for consolidated purchasing, and highlight areas where contracts could be negotiated for better terms.
Contract Management: The system can store and manage all contract details, including pricing agreements, volume discounts, and delivery terms. Alerts can be set for contract expirations or renewals, ensuring continuity of supply and adherence to agreed terms.
Invoice Processing: The module can process supplier invoices, automatically performing three-way matching to verify that the invoice, the received goods, and the PO all correspond. Discrepancies can trigger alerts for further investigation.
Procurement Analytics: Dashboards, reporting tools, and analytics features enable users to monitor procurement activities. KPIs like supplier performance, spend by category or department, procurement cycle times, etc., can be tracked and reported on. These insights can help improve efficiency and effectiveness in the procurement function.
Mobile Accessibility: With mobile access, users can perform tasks, review, and approve requisitions or purchase orders from anywhere, ensuring that procurement processes don't stall when key personnel are out of office.
The Infor CloudSuite Industrial (SyteLine) Procurement and Purchasing module is a component of the Infor CloudSuite Industrial (SyteLine) ERP system. It supports all procurement and purchasing activities within an organization, including purchase requisitions, purchase orders, supplier management, automated procurement processes, spend analysis, contract management, invoice processing, and procurement analytics.
Creating a purchase order in the system is straightforward. You can generate them manually, or they can be automatically created from approved purchase requisitions. Details of the requisition, including supplier, items, quantities, and prices, can be automatically filled into the purchase order.
The system is flexible enough to manage various types of procurement methods, such as direct purchasing, indirect purchasing, and services procurement. To ensure that you're not overpaying your suppliers, the system maintains a history of pricing from suppliers and can perform three-way matching. This ensures that invoice prices match the purchase order and the received goods. Contract management features can also ensure adherence to agreed-upon prices and terms.
With the supplier management feature, you have the ability to track and evaluate supplier performance based on multiple factors such as reliability, quality, and cost-effectiveness. The system also supports invoice processing. It can process invoices received from suppliers, automatically match them with corresponding purchase orders and received goods, and alert you to any discrepancies.
The system includes spend analysis tools that track and categorize all procurement expenditure. These tools can identify spending trends and areas for potential savings. To ensure that purchasing activities are well synchronized with inventory, the procurement module is typically integrated with inventory management. This allows the system to alert you when stock levels are low and trigger reordering to prevent stock-outs.
