Types of Procurement’s

There are several different purposes for which Goods/Services are procured by any enterprise few basic types of procurement’s are Consumption vs Stock Procurement for stock: This type of procurement is made mostly to fulfill the requirements of production. Raw materials or components required for production will be procured and stocked. A material should have a Read more about Types of Procurement’s[…]

MRP- Material requirement planning

MRP is a process that enables business meet there material requirement. It not only makes sure that materials are available for production but also schedules the proposals for the procurement by calculating lead time Material requirement planning is done at plant level and planned order is generated if the infrastructure is available it is manufactured Read more about MRP- Material requirement planning[…]

MM-Material Management

Sap MM is one of the core modules which helps business keep a track on procurement processes it begins with requirement determination goes till invoice receipt Key aspects of the procurement process are 1)Determination of material requirement 2)Determination of sources 3)Determination of vendor 4)Purchase order processing 5)Purchase order monitoring 6)Goods receipt 7)Invoice receipt The primary Read more about MM-Material Management[…]

SAP

SAP- (Systems, Applications, Products in Data processing) is an Enterprise resource planningĀ  software which enables business to integrate various functionalists of there operations right from procurement of the materials to planning there production, sales and distribution, finance ,human resource management and many more areas. Each of these areas are called modules organisations can have a Read more about SAP[…]