Procurement Module
" If you don’t drive your business, you will be driven out of business. "
Procurement module in TheERPHub manages all procurement-related activities such as evaluation, selection, supplier relationship, managing vendors, to raising RFQ etc. electronically without manual effort. Thus now eases down your administrative burden and own an easiest working system which can be operated from your phone too. TheERPHub Procurement module provides all these features along with some other key characteristics such as RFQ and Vendor Registration etc.
Procurement Management ERP Software Solutions
Procurement Management ERP Software Module
Other features of the modules which complete the work cycle of Procurement module.
Bill of Material
When a Sales Order is placed, a Bill of Material or Bill of Quantity is generated for procurement, which is usually a list of materials to be used for manufacturing the product.
Purchase Requisition
Based on availability of inventory in store, Purchase Requisition generated for procurement of remaining material.
RFQ
RFQ(Request for Quotation) is generated based on Purchase Requisition which will be emailed from the application to the respective registered supplier or approved vendor asking for the quotation.
Quotations
Once quotations are received, rates and payment terms entered into the system for comparison.
Prepare Purchase Order
Based on requirement, you can confirm one quotation and prepare Purchase order.
Vendor Registration
To get multiple quotations, we have developed an additional module, known as Vendor Registration and RFQ.
Vendor Registration
Every manufacturing company has links to various suppliers and these suppliers are attached to the company through vendor registration. The company has all the details about the suppliers name, address, their turnover, which industries they deals with and for how many items. The database of every new vendor who joins through vendor registration is maintained in same fashion.
Optional Module
This is an optional module, you can directly add him into supplier and make Purchase Order. But generally the vendor registration process is followed, through which the supplier is authenticated by the document he provides and only then he is approved.
Registration
Like lead company becomes the client, in similar way the vendor who registers himself under vendor registration becomes the supplier.
Transfer to Supplier
A transfer to supplier option present, which allows transferring the vendor registration details into the supplier management module.
What is RFQ ?
The major advantage of vendor registration is that, you don't need to contact each and every vendor individually to get the rate list comparison and the payment method. There is RFQ system, which means Request for Quotation. Make a RFQ document, in which you will mention your requirements about the quantity, quality and other necessities of the material. Also, specify the due date and the payment terms and conditions in it and then submit the document. The system will then generate a print of the document in certain format. Then you can send that RFQ document to the approved vendors or registered suppliers through email. When the vendors will reply to your mail with their quotation of the material, you can easily compare them. Then you can finalize the quotation you like the most. Then you can make purchase order out of it and can include annexure, comments etc. through the integrated system. You can issue the purchase order via system generated email. In Procurement module various documents are generated such as Purchase Requisition, RFQ, Purchase Order Issue and Purchase Order Service.
Streamline Procurement with TheERPHub’s Vendor Registration & RFQ Module
Simplify procurement with TheERPHub's intuitive module, electronically managing supplier evaluation, selection, and RFQs. Accessible from any device, it reduces manual effort and administrative burdens.
Features of Vendor Registration & RFQ Module
- Vendor Registration: Maintain a detailed supplier database, adding new vendors seamlessly.
- RFQ System: Simplify rate comparisons and payment methods with easy-to-create, electronic RFQs.
- Purchase Orders: Generate and issue purchase orders with annexures via system-generated emails.
Benefits of Vendor Registration & RFQ Module
- Efficient supplier management and procurement.
- Easy quotation comparisons.
- Automated Purchase Requisitions, RFQs, and Purchase Orders.
" If you don't drive your business, you will be driven out of business. "
