Business is not only about selling items or services to different clients. It also includes purchasing goods, services and other forms of items. Purchasing when done on a large scale requires a collaborative approach and complex in no time. For the sole reason, ERP solution such as Odoo offers Purchase solutions for the business out there. With the Purchase solution, the business can easily track their purchases, clients, goods and other important information without losing sight of the purchase.
With the help of the Purchase Odoo solution, businesses can easily track client's performance on delivery of the items and also create a useful Request for Quotations (RfQs) to multiple clients and enhance the overall purchase process of the business.
The primary question for the most of the small scale business is whether they require purchase management or not. The answer is obviously Yes. According to the experts, purchase management is one of the important processes of the company and requires attention from the managers. Without proper care, the whole process can go haywire and can easily affect other processes like manufacturing or sales.
With Odoo Purchase Management, organizations can take their purchasing department to the next level, bringing more productivity and revenue in exchange.
Supplier and Contact Tracking
With Odoo Purchase Management, tracking the suppliers was never been so easy. The system keeps up-to-date information about the suppliers and other contacts. This enables the organization not to waste crucial time in capturing the most basic information about them. The tracker also keeps other information, for example, goods purchased, due-dates and other vital information.
The inflow and outflow of information are quite obvious. This can lead to low stock in no time. With Automated Requisitions, the organization can easily restock and accept stock automatically without the intervention of any person. The automation helps to gain advantage in the competitive market and enables the organization at automate the most critical aspect of the Purchase Management.
To make smart purchases for the organization, Purchase Management has supplier price list monitoring, which enable the organization to get the best product for the lowest prices. The decision can be taken on many factors, including contract offers, product quality and promotions associated with the purchase.
Landed Cost Tracking
Landed Cost Tracking is the process of evaluating the right cost of the goods, which includes their packaging, shipping, and other small costs. This enables the organization to come at accurate landed costs for the goods. Landed Cost Tracking is a tricky proposition for many businesses and with Landed cost tracking, correct evaluation of the business can be done easily.
FIFO, LIFO, Avg. Costing Methods
The Organization can choose any costing method that reflects the philosophy of the business. It can be either FIFO (First In First Out), LIFO (Last In First Out) or Avg. Costing methods. Choosing the right costing method provides the organization to work transparently and do business in real-time.
Email's are the most important part of any organization. The purchase management tool support email integration. This enables the organization to take full control of supplier belt and retrace any information when needed. E-mail contain all the important information about each transactions, including RfQs and is the oldest form of communication that organizations benefit from.
Approval Process Control
With every purchase information, organizations can easily approve any process in the pipeline. Process control ensures that everything runs smooth and no process gets delayed due to approval delays.
Receiving and Payment
The Odoo purchase management ensures that each transaction is received and payments are made to the respective clients within the time frame. This ensures happy clients and creates a long-term relationship with them.
Working with multiple clients require statistics to learn about them. With purchase statistics, businesses can easily track supplier performance and come up with interactive reporting. The statistics also enable the business to get competitive prices, get maximum discounts on the goods and also review contracts with a regular purpose.