Purchase Contract

Quantity contracts are agreements for a company to order a certain quantity of a product during a specified period. In source determination, contracts replace the purchasing information records and can be assigned in the source list as the fixed source for MRP.

Target groups are purchasing managers as well as buyers. If purchase requisitions and purchase orders do not yet exist, they are created after the contract. You can check the released purchase orders that are referenced to a contract by monitoring the contract.

Key Process Steps Covered

  • Create a purchase contract
  • Make mass changes to purchase contracts
  • Approve purchase contract
  • Monitor notification (optional)
  • Manage source lists
  • Create a purchase requisition
  • Assign requisition and creating purchase order
  • Find purchase documents by requirement tracking number
  • Approve purchase orders
  • Monitor contract item (optional)
  • Post goods receipt
  • Create supplier invoice

Benefits

  • Reduce procurement costs
  • Secure supplies
  • Maintain transparency of supplier agreements