Put in order all your purchase-related activity to avoid complications. Let your business flourish by avoiding unnecessary purchases. A vivid purchase order management system is sure to benefit you to improve your business. Odoo ERP for purchase management module will help in streamlining quotation and purchase order.
Enterprise resources planning software solutions can ensure the smooth running of purchase management systems. Purchase order or the formal communication served by the buyer to the vendor consists of all details regarding the product. The quantity of the product being purchased, the quality, the price of purchase and other details can be viewed in a single click with an ERP support.
Highlights of Odoo Purchase Management Module
The best Open Source Software Solution, Odoo ensures the transfer and documentation of PO in electronic format. It also provides the user with a scope to print the PO. A Purchase management system also helps in getting approval for the purchase order. This helps the buyer, as well as the vendor as all criteria for the purchase of a product, will be mentioned in the order.
Purchase order created by the buyer contains all information regarding the product he wants to purchase. The supplier or the vendor can easily understand the units of measure, the product price preferred by the buyer and product variants details. This ensures smooth business between the buyer and the vendor.
Easy traceability of order
Implementing ERP software can help the business track the order with a click. The status of a purchase order from the moment of its generation can be traced with the help of e platform. The purchase order generation, approval for the purchase order, request for quotation and status of quotation can be monitored. It also supports the tracing of product dispatch from the vendor and the delivery. The payment tracking and the payment status also get simple with ERP tool.
Proper communication on product requirement
A purchase order generated with the help of Odoo purchase management module helps the buyer to communicate all his requirements. The product category, product variant type, unit of measures required and other details are listed in the Purchase Order. The price of the product and other details also helps the seller to get a clear idea about the demand of the buyer. The purchase order contains vendor details, tax details and order deadline of the product—besides, product details, description, the quantity of the products required.
Ask for Confirmation
Odoo 14 purchase module has introduced a new concept- Ask for Confirmation in the module. This gives the buyer ‘ask for confirmation option’ while sending purchase orders to the vendor. Once the vendor receives a purchase order, he can ask the buyer for confirmation of the order before a few days of dispatch. Odoo gives the buyer an option to select the day to receive a confirmation request.
Easy operation for vendors
As the buyer sends the purchase order with all specifications of the product, it helps the vendor to prepare in advance for the dispatch of the product. The vendor is also able to get confirmation from the buyer before dispatching the product. This avoids the return of the product and other complications. As the purchase order indicates the price of the product and unit of measure, the seller can make sure that the PO has been prepared based on the quotation submitted by them.
Quick generation RFQ
A purchase order is generated based on the quotation submitted by a supplier. Implementing ERP also eases the generation of requests for quotation. The review of the quotes submitted by the supplier and selection of the best supplier based on product quality, price and delivery time can be done quickly with Odoo support. What makes Odoo unique is the scope to review the status of the RFQ as well as PO with a few clicks.
Legal binding between buyer and supplier
A top ERP system helps the buyer make the vendor answerable for the products dispatched. Giving all specifications of the products offered by the vendor in the Purchase Order, the vendor becomes responsible for following the quality parameters. The vendor also benefits from the ERP generated Odoo Purchase Management Module. With ask for confirmation features, vendors can make sure of the order before dispatch. The ERP system also avoids differences regarding payment and billing as everything gets documented in the form of a contract with the purchase order generation.
Quick to manage auditing
Auditing is a time consuming process for many small businesses. But with the best ERP support, auditing becomes a cool game. Odoo Purchase order management helps to organize all documents regarding the purchase of products, including the purchase cost and units if measures purchase. This supports the auditing team to carry out auditing tasks quickly. Integration with the Point of Sale module and inventory module eases the auditing process. The purchase products, purchase expense and sold products and sale price can be calculated and managed effortlessly with Odoo ERP.
Efficient budget management assured
Ensure the success of your business with effective budget management support of Odoo Purchase. Implementing Odoo helps to generate purchase analysis. This gives the details of total purchased products, untaxed total, average order and the average days to purchase. The spreadsheet documentation also supports the calculation of purchase expense. The integration support of Odoo helps the small business to analyse expense and revenue and efficiently prepare the budget.
Upfront payment method and billing status review
Odoo purchase management module enables the payment for orders with a click. The payment can be made by validating the invoice and registering for payment. The bill status can also be reviewed with a glance with ERP services.
Odoo also extends support to:
- Saves Time
- Integration with inventory
- Easy monitoring of the status of the order
- Plan purchase accurately
- E-documentation of purchase order
Odoo offers a user-friendly interface for managing purchase order. It helps the business to document all purchase orders, quotations and other documents in cloud-based platforms. The investor can monitor the operations on the road, ensuring strict surveillance to improve employees’ efficiency. Bassam Infotech being the best ERP consultant, offers you support for a tailor-made ERP solution.