Procurement and sourcing
The Procurement and sourcing module in Dynamics 365 SCM is a comprehensive solution for managing businesses’ procurement and sourcing processes. This module provides businesses with the tools to manage the entire procurement process, from identifying the need for products or services to negotiating contracts and making purchases.
One of the essential features of the Procurement and sourcing module is the ability to manage and track suppliers. This includes creating and managing supplier records, monitoring supplier performance, and evaluating suppliers based on cost, quality, and delivery.
Another essential feature of the Procurement and sourcing module is the ability to manage and track purchase requisitions. This includes creating and approving purchase requisitions, tracking the status of requisitions, and managing the approval process for requisitions.
The Procurement and sourcing module equips businesses with the tools to manage and monitor purchase orders. It facilitates the creation and management of purchase orders, tracks the progress of orders, and oversees the receiving process for orders. The module is also compatible with the Accounts payable module, enabling businesses to handle invoices and payments to suppliers directly from the Procurement and sourcing module.
Another essential feature of the Procurement and sourcing module is the ability to manage and track sourcing events. This includes creating and managing sourcing events, managing the bidding process for events, and following the events’ results. The module also provides businesses with tools to manage and track sourcing strategies, evaluate supplier responses, and decide which suppliers to use for specific products or services.
The Procurement and sourcing module also allows businesses to generate detailed reports on procurement and sourcing activities. This includes information on purchase requisitions, purchase orders, contracts, product data, sourcing events, and supplier performance.
