Oracle Applications is a software that helps to run your Enterprise business such as Accounting, Human resources or financials.
The Procurement procedure in Oracle :
1. Purchase Requisition
It has to two types of requisitions.
- Internal Requisition : They are created if the items are transferred from one location to other within the same organization and it doesn't require any approval.
- External Requisition : They are created if the goods are required from external supplier. It requires to be approved.
- Each requisitions are to be approved for further process.
- Navigation : Purchasing > Requisitions > Requisitions.
2. Purchase order
- We can auto generate the purchase order for the previous requisition directly.
- Manually create the Purchase order based on the requirement.
- Navigation : Purchasing > Purchase orders > Purchase orders.
3. Receipts
- The receipts are created after the goods are received and the list consists of the items that are received with quantity and their price.
- Navigation : Inventory > Transactions > Receiving > Receipts.
4. Invoice
- Invoice is created for the items that are delivered, which is done in accounts payable section.
- Navigation : Accounts Payable > Invoices > Entry > Invoices.
5. Returns
- If needed to return any of the items that are received from the supplier we send the returns.
- Navigation : Inventory > Transactions > Receiving > Returns.
6. Payment
- The Payment is done to the supplier. The payments are done based on the payment terms that the supplier has.
- Navigation : Accounts Payable > Payment.
Advantages :
- The application design is good.
- We can choose explicitly the type of purchase we need to at the time of PO creation.
Disadvantages :
- Long process for a single purchase transaction to finish completely.
- It takes time for a new user to understand the transaction process.
- So many terms to fill in a section to complete.
*Screenshots in the blog are not from single transaction they are downloaded from google.
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