Managing procurement
Buyers and vendors require an integrated, flexible procurement
management solution to connect, manage content, and collaborate effectively.
Managing the interactions with vendors means that you have greater
control and visibility, improve product and service quality and delivery,
and drive savings through more effective and streamlined processes.
Procurement management process
Procurement management in IBM TRIRIGA provides a set of business objects that optimize the interaction with the vendor and the performance throughout the entire procurement lifecycle. It offers a centralized and complete electronic process for procurement that enables full participation with vendors.
Initiating the purchasing process
To initiate the purchasing process, you send a bid, a request for proposal, or a request for quotation.
Managing contracts with vendors
When an agreement is reached between your organization and the vendor, you must record the agreement in a contract. A contract can be awarded as a result of the bidding process or can be created separately.
Organizing products and services
You can identify and track the products and services that your organization procures to support its projects, maintenance, and other day-to-day activities. You can organize these products and records into catalogs.
Purchasing products
As part of the procurement process, you need to manage purchase requisitions, purchase orders, receipts, and returns.
Paying for products and services
With the Procurement Management application, you can manage and control purchase orders, receipts, and invoices for both manufacturing and logistics operations. A vendor database assists you with buying, quality control, and purchasing. You can exchange orders and invoices with vendors who use multiple currencies.