In the Procurement cycle of any organization, effective management of purchase requisition is critical for streamlining operations and ensuring timely procurement.Odoo 16 provides robust tools to manage purchase requisitions.In This blog post, we will explore how Odoo 16 simplifies and enhances purchase requisition management, ensuring timely approvals and effective procurement.
Vendor Management
Maintaining good vendor relationships is crucial for effective purchase operations in an organization. Odoo’s Purchase module streamline vendor contact management, enabling quick access to vendor details when needed. With Odoo ERP, configuring and maintaining a vendor list becomes effortless, allowing users to efficiently manage vendors and related operations in one centralized location. Access the vendor management window through the Purchase module’s order menu.
Dashboard → Orders → Vendors → New
Configuring a new vendor in the Purchase module follows a similar process to configuring a new customer in the Sales module.complete the necessary tabs, such as contacts and Addresses, sales and purchases, Accounting, Internal Notes,and MX EDI.
Additional smart buttons will appear on the vendor profile.
When you click the Add button in the Contact & Addresses tab ,a Pop-up window will open to allow you to enter and add contact details as below.
Vendor Pricelist Management
Pricelist are essential for successful and profitable sales operations. Vendor pricelist in the Purchase module allow you to define prices for specific vendors, product, and time periods.These pricelists are applied when purchasing products from vendors.creating vendor pricelist is a process in the Purchase module’s configuration menu.
Creating RFQs ( Request for Quotation )
In Odoo 16’s Purchase module , you can easily create and send RFQ ( Request for Quotations ) to vendors before purchasing materials. The module provides a dashboard where you can track the number of RFQs that need to be sent , are waiting , or are overdue. With a simple click of the Create button, you can generate RFQs by entering vendor details, order deadlines , product information, and other relevant details.
You can then send RFQs to vendors via email. The RFQs can also be printed and saved for further references .Once you receive the quotations from vendors and confirm the purchase order , you can update the status of the RFQs to reflect the conversation to a purchase order.
Purchase order Management
When the vendor sends products as per the confirmed purchase order,Odoo simplifies the receipt process.clicking the Receive Products button opens a window displaying the incoming shipments.Access this window via the Receipt smart button in the purchase order window.
Validate the delivery receipt verifying details like supplier, delivery location, schedule date, and source document.Under the operations tab , view product details, demand , completion status, and unit of measure. The Additional information tab provides shipping and other relevant details.Confirm the delivery by clicking validate. The status changes to Done indicating successful processing of the transfer.
When you click on the Validate Button in Purchase order , a pop-up window will open to allow you to click on the apply button for immediate product transfer.
Invoicing and payments
After confirming a purchase order, simply click on the Create Bill button to generate the vendor bill in Odoo. you will be directed to a draft vendor bill from where you can review and verify the details such as vendor information, bill references, dates , payment details, and invoice lines.Confirm the vendor bill by clicking Confirm. Once the payment procedures are completed, the status of the vendor bill changes to Paid , streamlining the payment process for the received products.
When you click on the Register Payment button , a pop-up window will open to enter Details and allow you to click on Create Payment button.
As we are Clear on how Odoo 16’s Purchase Module generates vendor bills.
Reporting and Analysis
Leverage the advance reporting capabilities of Odoo 16 Purchase module to gain valuable insight into your company’s purchase operations. Generate reports on a daily, monthly,or yearly basis, enabling you to analyze purchase activities effectively.With dynamic reporting,visualize data through intuitive graphs and pivot tables , empowering you to make data – driven decisions and through intuitive graphs and pivot tables, empowering you to make analytics with Odoo 16’s advance reporting feature.