Purchase Management is a critical function in any manufacturing enterprise, responsible for the timely procurement of direct and indirect materials required across departments. It ensures inventory replenishment based on reorder levels, minimum stock thresholds, and planned consumption while negotiating optimal cost, quality, and lead time with multiple vendors.

The primary objective of the purchase module is to standardize the end-to-end procurement lifecycle, including purchase requisitions (PRs), supplier selection, and purchase order (PO) generation. Further, it also helps in streamlining quality inspection and supplier billing, fully integrated with inventory and accounts.
Key Features of Purchase Management Module:

• Maintain supplier master records, contact details, rate contracts, and category-wise vendor classifications
• Track purchase history, price fluctuations, and supplier performance based on delivery timelines, quality ratings, and cost metrics
• Auto-generate purchase orders based on MRP runs, consumption forecasts, or triggered reorder points
• Compare multiple supplier quotations and automatically generate POs against the most cost-effective option
• Support for various PO types: standard, rate contract (Open PO), and schedule-based orders
• Define tolerance limits at the item and PO level for quantity, price, and delivery deviations
• Auto-generate debit notes for short receipts or price overcharges based on GRN vs PO variance