Consolidate requisitions, research vendors, and award efficiently.
- How a need becomes a purchase: requisition, RFQ, vendor quote, then purchase order.
- How to gather and compare vendor quotes and select the best.
- How the vendor catalogue keeps the items, prices and tax you buy consistent.
Overview
Procurement Planning decides what to buy, when, and from whom. It listens for purchase and sourcing needs through a streamlined requisition process: an employee raises a requisition, it goes to vendors as quotation requests, qualified responses are recorded for review and selection, and the winning quote is converted into a purchase order. The result is a cost-effective, controlled way to acquire goods and services.
Features in this function
- Requisition – a formal internal request to buy.
- Request Quote (RFQ) – ask vendors to price what you need.
- Vendor Quote – record and compare what vendors send back.
- Vendor Catalog – the items, prices and tax you buy from each vendor.
Highlights
Streamlined procurement process
Requirements flow from requisition to RFQ to award without re-keying, so the line items, quantities and specifications carry through, and the awarded quote becomes the purchase order in one step.
Processes
Complete requisition cycle
Raise a requisition, send RFQs to multiple vendors, record the vendor quotes, select the best, and award it as a purchase order.