{"id":6390,"date":"2019-11-29T09:47:16","date_gmt":"2019-11-29T01:47:16","guid":{"rendered":"https:\/\/psglobalconsulting.com\/procurement\/"},"modified":"2022-12-21T15:22:44","modified_gmt":"2022-12-21T07:22:44","slug":"procurement","status":"publish","type":"page","link":"https:\/\/psglobalconsulting.com\/my\/oracle-netsuite\/procurement","title":{"rendered":"Procurement"},"content":{"rendered":"\t\t
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Procurement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Optimise Your Procurement with
Workflow-Driven Approval Routings for Cost Certainty<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Procurement or purchase can be a time-consuming and inefficient ordeal, especially when requests for goods and services have to be processed manually using a combination of phone calls, emails, paper catalogues and faxes.<\/p>\n

Oracle NetSuite’s procurement solution helps companies to purchase goods and services at the best cost and in a timely manner by saving valuable time for employees with easy-to-use features, reducing costs by channelling orders to approved suppliers and pre-negotiated contracts, and increasing transparency by making real-time information accessible to business spending and vendor results.<\/p>\n

Oracle NetSuite also streamlines and improves the accuracy of the procure-to-pay system by automating and connecting main procurement transactions and offering workflow authorization and matching to support internal controls and compliance requirements.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t

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Features<\/span><\/strong><\/h2>
  • Source<\/strong>
    A Request for Quote (RFQ) is a request sent to one or more vendors asking them to provide specifics about their pricing, terms and conditions related to a purchase contract for a product they provide. Usually, the pricing request is tiered, which means that by purchasing larger quantities of an item, the price per individual unit goes down. A vendor may also opt to provide additional discounts when a specified total amount has been spent across all items purchased within a specified time frame.<\/li>
  • Purchase<\/strong>
    Oracle NetSuite can help create purchase orders for the appropriate items and quantities, help track special orders, and enable drop shipments. Vendors can access a business\u2019s account through the vendor portal, which allows all purchase orders placed for them.<\/li>
  • Pay<\/strong>
    Easily match purchase orders, item receipts and vendor bills with configurable workflows to optimize cash flow.<\/li><\/ul>
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    Key Benefits for Procurement <\/span><\/strong><\/h3>
    • Streamline Procure to Pay<\/strong>
      Automate business processes to reduce your average procure to pay timeline and increase cash flow.<\/li><\/ul>
      • Achieve Cost Certainty<\/strong>
        Use Oracle NetSuite\u2019s many costing methods to improve your costing accuracy and stabilize gross profit.<\/li><\/ul>
        • Improve Product Quality<\/strong>
          Use our native requisition and RFQ tools to manage vendor selection and improve product quality.<\/li><\/ul>