Use Supply Chain Features to Increase Your Purchasing Power
PowerShift provides many tools to simplify the job of purchasing. One of these is vendor contracts, a part of supply chain processing. By setting up vendor contracts for some of your suppliers, you can eliminate the task of creating and maintaining purchase orders. Your vendors can receive frequent updates about what you need and when you need it, making it possible for them to take advantage of cost savings on their end that they can pass on to you.
Supply chain requirements are based on data generated by the material requirements planning process. Even if you're not using the Material Requirements Planning (MRP) program, you are probably doing some of this manually already to determine when and how much to order.
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MRP creates planned orders based on customer orders and forecasts. The supply chain process converts planned orders to purchase requisitions (based on vendor contract parameters). When goods are received from the vendor the requisition quantity is decremented and a purchase order and receiver are generated for the quantity received. Since you don’t have to manually place the orders you can schedule more frequent shipments – even daily deliveries if needed. As new orders are entered or dates change, the vendor supply requirements are updated when you execute MRP. A schedule like the one displayed below is emailed to the vendor when you select the contracts to print. No purchase order revisions required!
Past due numbers are highlighted in red, firm fabrication and material quantities are also color-coded for a quick analysis of where those cutoffs occur. You determine, by vendor, how far out to extend the schedule they receive.
If you have questions about how you can use PowerShift's supply chain features to increase your purchasing power, contact the Qantel Helpdesk or call us at 630.300.6999 for more information.