Chapter 5. Procurement Management
Procurement management is the process of managing the acquisition of goods, expense items, and services from an organization's suppliers (in Compiere, these suppliers are referred to as Vendors).
We will review how Compiere handles Procurement Management in this chapter, and shall:
Give you an overview of the business flows in the Procurement transaction process
Illustrate how Requisitions are captured and converted to Purchase Orders
Show you how Purchase Orders are matched to Accounts Payable invoices
Create Material Receipts from Purchase Orders or Invoices
Match documents in the Procurement cycle
Give you an overview of the accounting principles
Explain in detail the standard reports available in the system
The Procurement flow
In following best practice design, Compiere facilitates the Procurement flow as shown follows:
The specific entry point into the Procurement cycle is very flexible and documents do not initially have to link to each other. In effect...
