For any business, purchasing management is an inevitable and significant component. With effective purchase decisions and strategies, companies can have significant cost savings. The procurement processes are handled by the purchasing department. Buying materials, equipment, services, and other goods required for manufacturing the product that has to be delivered to the customer is the responsibility of the purchasing department of the company. Purchasing of the necessary products has a direct impact on the basic factors of the company, such as sales and cost. Through effective purchasing and proper purchase management, the costs can be reduced and improve sales.
Managing the purchasing process manually can be hectic and may have the chance of errors. With the advancement of technology, many purchase management software is widely used by companies. Since the purchasing process is linked with other departments of the company you will need software that will not interfere with the workflow of the enterprise.
Odoo ERP is the business solution you need for growing your business. With modules that offer great visibility and control over the business, Odoo ERP is the perfect choice for businesses of every size. The Purchase module of Odoo helps you in keeping a track of the quotations, purchase orders, and purchase agreements. Apart from the basic purchase factors, with the Odoo Purchase module, you can manage the vendor details, generate reports regarding the purchases, configure vendor price lists, purchase agreements, and much more.
In this blog, let us have a brief overview of the Odoo 15 Purchase module.
Generating RFQs
Before purchasing materials from the vendors, quotations are sent to the vendors and they submit their quotations marking the cost and other relevant details. From the submitted quotations, you can choose the best offer. With the Odoo 15 Purchase module, you can easily create and send RFQs to the vendors. By viewing the dashboard itself you can have a glance at the number of RFQs needed to be sent, waiting, and late. With the CREATE button, you can create quotation requests easily. By inserting details of the Vendor, Order Deadline, details of the Product, and Other Information you can send the quotation by mail to the vendor. The created RFQ can be printed and saved for future reference by clicking on the PRINT RFQ option. Once the quotation is received and the order gets confirmed, you can change the status of the RFQ to Purchase Order.
Managing Purchase Orders
With the Odoo Purchase module, you can manage the purchase orders and also create new purchase orders in the database. The details of the purchase orders such as the Confirmation Date, Vendor details, Receipt Date, Purchase Representative details, Cost of the purchase order, and Billing Status of the order is provided. Also, the Next Activity that has to be conducted on the purchase order is mentioned.
Managing Purchase Agreements
Just as managing the purchase order, in the Odoo 15 Purchase module you can manage the Purchase Agreements. The agreements can be validated with a few clicks. You can add the Agreement Deadline and Source Document data to the agreement and further can view the RFQs created using the particular Purchase Agreement. New Purchase Agreement can be made by clicking on the CREATE button and new quotations can be made using the Purchase Agreement created.
Managing Vendors
It is important to have the contact information and details of the vendors that the company has worked with and might be working with. With the Odoo 15 Purchase module, you can have the records of the vendors, schedule meetings with them, and much more. From the Vendor profile, you can retrieve the necessary information and history of the purchase and sales orders. You can create a new Vendor profile in the system by clicking on the CREATE button and by inserting relevant information in it.
Product Management
The products and services that have been purchased must be managed properly. With the Odoo 15 Purchase module, you can have a record of the products the company possesses. This enables the organization and tracking of the products in a systematic manner. Using Filters you can view products of different categories such as products that can be sold, purchased, rented, subcontracted or expensed. The purchase and sold history of the product can also be viewed from the product profile. New products can be added to the database by simply clicking on the CREATE button.
Managing Product Variants
At times, there will be products in the company that might be the same in some factors but different when coming to color, size, or material. Such product variants can be grouped and viewed in the Odoo 15 Purchase module. The variant values of the products are specified which makes you get a better understanding of the product. With a few clicks, you can create new Product Variants and set the rate of the product.
Generating Reports
It is important to have a regular analysis of the purchases done in the company. In the Odoo 15 Purchase Module, you can generate analytical reports of the purchases and evaluate them. Different measures can be used to generate the reports and different Filters can be applied to them to create a precise report.
Configuring Vendor Price List
Vendor Pricelist is the feature in the Odoo 15 Purchase module where you can record the prices of the products set by each vendor. With this feature, you can compare the rate of the products along with their unit of measurement and reach a conclusion.
Configuring Units of Measurement
In the Odoo 15 Purchase module, you can configure the Unit of Measurement used for different products. The Unit of Measure can be of any category such as time, length, weight, volume, or surface. You can create new Unit of Measure values in the database with a few clicks.
With the Odoo 15 Purchase module, you can track and manage the purchases and the purchased products effectively. The purchase department can have a clear picture of the purchases, vendors, next activity to be performed, purchase agreements, and products. The products and services of the enterprise can be easily managed with the Odoo 15 Purchase module. Read more about Unit of Measure