As the digital world is taking over and the work that was done on paper needs to be done quickly and with a very large amount of efficiency, the work is moving online. The biggest trouble that was previously there in the system used earlier was that the Purchase Manager/Assistant/Accountant needed to keep track of all the vendors, and product details with price and costing. This system stores all the details under a single module or multiple modules to use the vendor and product details whenever a user needs to access it. In addition to that user will be assigned different rights based on whatever features are to be shown to him/her. So let's have a detailed look at the SRM we have for the SmartCity operations.
Easy supplier management with all details in a single screen
In-built Purchase Agreements & Procurement Contracts Management
Strong & smart reporting with analytical data availability
Enabled with P2P (Pay to Procure)
Configurable accounting points with different costs
Procurement and Purchase
The system also stores all the POs, RFQs, invoices, Pending payment details and invoices from different vendors with their price list to ease and speed-up the operations.. The system provides the functionality of an E-bidding platform for different vendors with document attachment and details. It will allow the system user to check different proposals and based on that one will be able to have the deal accordingly with respective vendors.
Master Data Management
The main part of any purchase made is the master data that is configured at the core of the solution. The master data contains vendor details, product details, bills of materials, and the preferred vendor with product list, price, and lead time for that. These are going to be the one-time configuration which helps users to save time & work faster than any other solutions. Previously all the purchase orders are also stored in the module with details of price so that users can check previous prices based on that new prices can be calculated. Interconnection of modules & a proper sync between master datas can be considered as one of the key points for our Supplier Relationship Management solution.
Taxes and discount details are also available in the system with which a user can easily get more benefits of e-procurement and work on it with comfort.
Electronic Purchase Requisition
The whole story starts with an RFQ. The PO (Purchase Order) from RFQ to purchase to receive goods notes, the whole process is available in online form. When a user wants to send a purchase request / RFQ it will be first sent to his commanding officer for approval. The whole process is done through online mode so that both users can get the details without any delay. Also, the users who send and receive the request will be notified of any changes done. If the request is sent to the approver then he will receive an email for the same on his email id configured and if the approver approves/rejects the request then the email will be sent to the rest of the people who follow that specific process.
Level of approvals & Reordering
The purchase and inventory both are managed in a connected manner. It will directly trigger delivery and receipt based on the generated order. In addition to that, there is a customized flow for Approval of purchase orders based on the Amount of PO. We have a very cool feature that helps the users to re-order and for that we have multiple reordering rules which we can define. Reordering rules can also have a number of vendors listed under it along with the pricing.
Suppliers / Vendors should be managed in a way that reduces the involvement of human elements in keeping track of records & files. Now to do that, we have used the maximum capacity of the system which allows us to configure the master data and to have them for selection at various levels on the forms. Suppliers are the moving engine of the whole set of processes we need to manage through the SRM or Purchase Management.