Receipts for Procurement Features and Functions
Receipts for procurement refers to the criteria related to the reception of ordered goods from the supplier. Between the moment when goods arrive and the moment when they are physically stored in the warehouse, there are a few factors that need to be taken into consideration, such as the quantity of the good received (Does it correspond to the quantity ordered?); the quality of the goods (Were the goods damaged during transportation or handling? Did perishable goods expire before getting shipped?); and pricing (Did the price of the goods delivered change due to unexpected factors?).
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- Reports information on goods reception
- Multiple POs may be grouped as a single receipt for one shipment
- Automatically numbers receipts in sequence
- Calls up PO receipts in real time and updates inventory data
- Flags and updates using conversion factors when received unit of measure is different from ordered unit of measure
- Issues a claim note when the packing slip differs in quantity from the receipt
- Reports on material rejections (as for material tests and specification differences)
- Issues shipping and credit documents to suppliers for returns, or to obtain replacements for rejected materials
- Provides receipts for materials requiring inspection upon reception
- Provides receipts for materials that do not require incoming inspection (goods that go to stores without intervention)
- Receives and processes drop-ship orders by line item on a PO
- Material receipt information may be noted
- Records and issues claims upon receiving materials that violate standards
- Records invoice to financial system as materials are received
- Issues reports, comparing material received against production material shortages
- Correlates quantities of the PO with the received invoice
- Maintains changes to the pricing of materials
- Computes and posts price variances for standard cost accounting
- Maximum quantity (based on size, volume, or weight criteria) of products that can be shipped in a container
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Purchasing Management Features and Functions
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