Purchase Management is a procurement activity of goods and services from external sources.
OverviewBack to top
With the help of purchase management extension, the store owner can create purchase orders, request quotations, manage incoming shipments, and update incoming products information easily. The purchase orders can be created either manually or automatically. An automatic purchase order is created when any product goes out of stock. After confirming the auto-draft purchase order, the admin can send the purchase order to the supplier via email.
Use Case of Purchase Management -
Managing information about all the products is very difficult. There are various problems such as - variation in lead time, seasonal demand, uncertainty in demand-supply, change in prices, etc. Accordingly, the store owner has to decide a lot of things like - what products, in which quantities, from which supplier, and when to order. Since keeping a track of all these records is not possible, this extension comes handy.
Features of Purchase Management -
- Select default procurement method as – auto or manual.
- Set the default prefix for purchase order ID.
- Send quotation and purchase order emails to suppliers.
- Add any comments in purchase orders and incoming shipments for notifying the suppliers.
- Add suppliers information in products by specifying – the cost price, quantity, priority, and lead time.
- Manage incoming shipments and products from store back-end.
- Update the information about the partial shipments.
- An auto-draft purchase order is created for out of stock products.
Workflow of Purchase Management -
First, the admin will configure the module for use. The admin will select the default procurement method as - make to stock or make to order. Then, the admin will insert any default prefix and padding as needed for the purchase order ID. After that, the admin will enter the email content for the suppliers.
Now, the admin will add all the suppliers' information. In the products, the admin will enter the cost price and select the procurement method as - auto/manual/config. Then, the admin will choose and add different suppliers for each of the product. Next, the admin will set each supplier's cost price, minimal quantity, lead time, and priority.
For creating a new purchase order for the suppliers, the admin will enter a name in the source document and select any one of the available suppliers from the list. Then, the admin will select the products and mention the order quantity. After creating the purchase order, the admin can view or edit the ordered items. After that, the admin can send the purchase order to the supplier. The admin can also notify the supplier by adding any comments in the purchase order.
An incoming shipment will be created for every new purchase order. When the admin receives the ordered shipments, it can update the information in the store. After that, the ordered product stock will auto-update itself in the store.
Benefits of Purchase Management -
Determining which products to order at what quantity and from which supplier is really challenging. The purchase management extension enables the admin to manage the complete procurement function of the store.
The admin can select the supplier for sourcing the products and sending the purchase orders. The purchase order extension automatically creates a draft purchase order whenever a product goes out of stock.
Release NotesBack to top
- Compatible with CE: 2.1
- Stability: Stable Build
-------------------------------- Version 2.0.0 --------------------------------------
+ Automatic Purchase Order Generation if product goes out of Stock
+ Generate Request For Quotation for every Purchase Order.
+ You can perfectly check the status of your incoming products/Shipment.
+ Easily Merge Two or more Purchase Orders.