Procure to Pay : Process Details as per Exact Module( Suite success Edition)

1. Procure to Pay

Procurement & Replenishment covers all aspects of item procurement, item movements between locations, and accounts payable processing.

User Stories

ID	Title	User Story
1.0	Procurement Strategy	The Procurement Manager and accounting staff will define the procurement strategy.Ensure there is a defined a procurement reporting strategy which supports the procurement strategy through accurate tracking of A/P Aging and Vendor Performance.
2.0	Strategic Purchasing	The Procurement Manager will utilize the following process areas to complete Strategic Purchasing; Purchase Requisitions, Demand Planning (optional, if purchased), Blanket Purchase Orders, Request for Quotes, and Purchase Contracts.
2.1	Purchase Requisition	The Procurement Manager is responsible for creating and managing Purchase Requisitions.Multiple Purchase Requisitions can be merged onto a single Purchase OrderTherefore, if it is required that multiple Purchasing Requisition transactions be consolidated onto a single Purchase Order, Purchase Requisitions should be used. Requisitions have distinct transaction numbering from Purchase OrdersItems do not neet to be from a single vendor and they may be process in bulk.
2.2	Blanket Purchase Orders	The Procurement Manager and accounting staff are responsible for creating and managing Blanket Pos. The Blanket Purchase Order Saved Search on the dashboard will be used to show amount ordered, received, and billed. The Procurement manager will use the Schedule Details Saved Search to review purchase order numbers, dates and memo fields. Sourcing managers and buyers will input and use negotiated terms and pricing, and pre-schedule deliveries for purchases within a pre-defined period. Purchase orders lines will link to Blanket Purchase Orders and ongoing purchases are tracked for reporting and analytical purposes.Utilize blanket purchase orders to establish and manage an item receipt schedule, associated values and any special purchasing terms such that the associated vendors are able to plan and prepare for upcoming supply needs. Purchase Order Process FlowNote: if using Demand Planning: do not use demand/supply planning for items with blanket orders, as the blanket order quantities are not netted in the supply planning process.
2.3	Request for Quote (RFQs)	The Procurement Manager will be responsible for managing the RFQ process within NetSuite. The Procurement Manager will use the RFQ Awaiting response saved search on the dashboard to review quotes awaiting a response.Sourcing managers and buyers will be able to create and send RFQs to multiple vendors, and then analyze the responses to obtain the best terms and pricing for purchases on specific items. Once a vendor is selected for an RFQ item, the system will automatically create purchase contracts using the terms and pricing provided in the RFQ.Utilize the Request for Quote (RFQs) to obtain proposals from multiple vendors offering similar but competing priced products. Vendor Center must be utilized for vendors to respond to RFQs. NOTE: The Vendor must have a contact with an email assigned to allow the customer to send the RFQ to the Vendor for bidding.
2.4	Purchase Contracts	The Procurement Manager will be responsible for overseeing and managing Purchase Contracts. The Procurement Manager will review contracts status by using the Contract to Approve saved search on the dashboard.Sourcing managers and buyers will be able to input and use negotiated terms and tiered pricing for purchases within a pre-defined period. Purchase orders lines will link to Purchase Contracts and ongoing purchases using the Purchase Contracts will be tracked for reporting and analytical purposes.Leverage purchase contracts to ensure negotiated purchase rates are honored and maverick spend is eliminated. The Procurement Manager and the accounting staff will monitor the Spend not under Contract KPI to evaluate maverick spend trends.Utilize Expiring Contracts reminder to identify contracts which are expiring so that appropriate action can be taken (e.g. renegotiatate contract pricing/terms/conditions).

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