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Pricing in Purchasing

Posted on August 18th, 2010 by Sanjit Anand ||Email This Post Email This Post

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The Procure To Pay cycle (PTP) of any industry includes following some basics steps:

  • Requisition is raised by any department of the plant. Or any automatic process (MPR, Min-Max Planning)
  • The Purchasing Dept. employee (buyer) creates the PO based on the Requisition and previous price information when this exists, otherwise, buyer creates Request for Quotation (RFQ) from different suppliers, based on the Requisition.
  • The Quotations are sent by suppliers in response to the RFQ.
  • The buyer will analyze various Quotations and place the PO on a supplier, based on analysis
  • The Supplier receives the PO and the notification if he has iSupplier Portal implemented .He then supplies the goods on PO lines or sends an ASN.
  • The receiver receives the goods.
  • The invoices are raised and payment is made to the Supplier.

Oracle Purchasing support the pricing using the following structure

PO Pricing

 

Oracle’s standard features include:

  • Creation of Purchase Requisitions
  • Recovery Pricing information from ASL setup
  • Recovery buyer information from Organization Items Setup
  • Creation of PO and receipt against a PO shipment
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