Manual management of RFQ and purchase order are next to impossible in the modern era. ERP tools are the best solutions for managing purchase and other operations taking place in an organization. It not just helps to plan purchases and manage purchases, but also ensures a smooth supply chain for the perfect management of the industrial activities.
To ensure timely delivery of the product a business should ensure the timely procurement of raw materials or mercantile. Odoo 14 purchase module is a tool that can offer complete support for ensuring timely delivery of components and products from the vendor. Not only has that it also helped you to choose the best vendor by managing a list of vendors.
As you know purchase can be the buying of anything including raw materials, semi-finished products or finished goods. Odoo is a tool that will help your business to manage all types of purchase in a systematic way and record all transactions. It will also guarantee the integration of inventory and sales activities.
Know more about Odoo 14 purchase module
Odoo purchase module offers a lot of specialized features and distinctive functionalities which can help you. Let us take a look.
- Odoo Purchase support easy integration with other Odoo modules
- Automation of purchase operations
- Quick documentation and record management
- Effective support for order management
- RFQ generation made easy
- Secure purchase agreement generation
- Vendor bill and payment made easy
- Can work in tune with inventory and accounting
- Manage purchase based on availability
Why is Odoo 14 an essential tool for purchase?
Odoo 14 is the recent version of Odoo open source ERP solution. This online platform can comprehend the business operations by coordinating different wings including human resources management, customer relationship management, expense management, e-commerce, marketing , sales and purchase. Odoo has different modules for managing all these operations. With the support of the open source supporters and developers, Odoo introduces new features and functionalities every year. Unlike a proprietary software tool that gets the customization and development support of only a small group of software experts, Open source tools grow immensely by ensuring the participation of developers across the globe.
We can discuss the key features of Odoo 14 Purchase module those will boost your business prospects.
RFQ
RFQ or Request for Quotation is a basic feature that helps the business venture to demand quotation from vendors. This help the buyer to get an idea about the products offered by different vendors and the price of the product. Once the RFQ is created, confirmed and sent to the vendors, interested vendors will respond and send their quotations. This will help the investor to compare the quotation and find the vendor who sells the required product at convenient pricing and with required quality.
Hope you can understand the ease of using the RFQ with the help of Odoo 14 using the above given image. Here, we can create the RFQ with a few clicks. We can fill in the fields easily and confirm and send the quotation.
Odoo supports you to mail RFQ and get a printout of the same.
Ease of Generating Purchase Orders
When does a buyer generate a purchase order? When the vendor responds to the RFQ and sends a quotation, the buyer selects the best vendor and product. Then we have to create a purchase order to go ahead with the purchase activity.
In the above page we can find the create button and using it we can create a purchase order. There we have to add the order confirmation date, vendor details, receipt date etc. This will also help us to add a purchase agreement. Using the purchase order we can also track the next activity.
In the above page we can find the details of the purchase representative. Clicking on the image of the representative we get an option to view or plan the next activity.
This newly added function helps the investor to plan the next activity in advance.
We can also engage in conversation with the purchase representative of the vendor to clarify our doubts
Professional Purchase Agreements
Purchase agreement is the document that works as a proof of the deal between the buyer and the vendor. The agreement will contain details like the type of agreement, name of the purchase representative, currency used for transaction, agreement deadline etc.
As the deadline, company name, ordering date etc will also be included in this form the vendor will be liable to follow the date and agreement conditions. This will help the buyer to get the products delivered on time.
Systematic Management of Vendors
In a purchase operation, the vendor is equally important as the buyer. So, we have to manage a list of vendors. We will need vendors for purchasing different items. This process becomes easy with the creation of a vendor list. Odoo also helps us to get the list of vendors using Kanban and list views. We can manage the vendor directory and use it for the purchase of different items. As we can include the location of the vendors we can plan the purchase based on it.
Odoo directory also helps to remove vendors from the list or black list those who frequently violate the delivery deadline and quality standards.
Product and Product Variant Management
Purchase is the process of buying a product. That means we have to maintain a list of products that we are selling or manufacturing. This product list helps us to plan our purchase items.
We can create and manage products including general information. We can specify the type of the product, price and category. We can also manage invoices based on the product variant.
With Odoo 14 management of attributes like material, size and colour can be done with a few clicks.
Generate Accurate Reports
For any business, analysis and review are important. Odoo 14 assures the generation of the most accurate purchase report based on purchase statistics. As Odoo assures efficient documentation we can create the report with a click. It will also help you compare purchase report for different time periods.
Like all other Odoo modules, Odoo 14 Purchase module also offers best support to the business. It is sure to offer a boost to the business by saving time and ensuring accuracy. It can support the user to complete the documentation.
We can also get support for invoicing based on ordered quantities and received quantities. Besides we can go for 3-way matching to make sure that we pay only for the received quantity of products. Logistic support can also be guaranteed by enabling dropshipping.
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Interested to know more? We can be accessed at odoo@cybrosys.com or +918606827707