Understanding Procurement Process
What Does This Page Cover?
Learn how you can create a procurement request and the various stages involved in the process for organizations.
Overview
Procurement is a constructive method used to streamline an organization’s procurement process to achieve desired results while saving money, managing time, and establishing collaborative supplier relationships.
The purpose of procurement is to ensure that required supplies are available at the right time, at an appropriate price, and meet the needs of the company.
Procurement Process
The process typically involves effectively managing the entire procurement lifecycle, encompassing tasks such as acquiring products, reviewing requests, creating purchase orders, bidding vendors, raising invoices, and managing contracts.
Please check this link to know in detail about the complete procurement process, features and its benefits in detail.
Procurement process in Zoho Creator Procurement
Procurement by Zoho Creator is a unified solution meticulously crafted to fulfill your procurement management needs seamlessly. It helps to digitize unique processes from requisition to tracking, and to manage every step of the procurement lifecycle, all under one roof.
Here is a gist of the steps involved in the process for your understanding followed by a process flowchart:
- As a first step, a Procurement Request (PR) is created by the procurer. This document includes details like Description of the item needed, quantity required, specifications if any, estimated budget and the justification for the purchase.
- The requisition is then submitted to the appropriate authority for review and approval. The approval process may involve multiple levels of management or follow specific organizational guidelines.
- After approval, a purchase order (PO) is generated by the procurement department. The PO is sent to the selected supplier/vendor.
- The procurement team receives and compares the quote from vendors and goes through vendor selection and confirmation.
- Consequently, if everything is in order, the goods are accepted, and the service is validated.
- Invoice verification and payment gets done for order fulfillment and moved for record keeping.
Process Flow Chart
Use Cases
Information Technology (IT) Procurement:
A company purchasing laptops, servers, and networking equipment for its IT infrastructure.
Procuring software licenses for office productivity, security, or specialized software tools.
Ecommerce Procurement:
An e-commerce platform sourcing products from various suppliers to sell online.
Procuring fulfillment services for warehousing and shipping.
Points to Note
- At this moment, employee requests cannot be combined into group procurement requests. They can only be processed as individual requests.
- Cost bidding is not possible in the existing version, however it is something we are actively working on to bring as a feature in the future.
- The procurement team will only be able to compare the quotes received from the vendors and select the best option. Vendor negotiation is not possible at the moment.
Related Topics
Will be added later when available.
Zoho CRM Training Programs
Learn how to use the best tools for sales force automation and better customer engagement from Zoho's implementation specialists.
Zoho DataPrep Personalized Demo
If you'd like a personalized walk-through of our data preparation tool, please request a demo and we'll be happy to show you how to get the best out of Zoho DataPrep.
- Zoho Workerly Home
- Forums
- Connect With Us:
- Zoho Recruit Home
- Forums
- Connect With Us:
New to Zoho CRM Plus?
Deliver unforgettable customer experiences
New to Zoho CRM Plus?
Deliver unforgettable customer experiences
New to Zoho Marketing Plus?
Everything you need to run your marketing
New to Zoho Marketing Plus?
Everything you need to run your marketing
You are currently viewing the help pages of Qntrl’s earlier version. Click here to view our latest version—Qntrl 3.0's help articles.
New to Zoho Survey?
Zoho Sheet Resources
Zoho Forms Resources
New to Zoho Sign?
Zoho Sign Resources
Sign, Paperless!
New to Zoho TeamInbox?
Zoho TeamInbox Resources
New to Zoho ZeptoMail?
Zoho DataPrep Resources
Design. Discuss. Deliver.
New to Zoho Workerly?
New to Zoho Recruit?
New to Zoho CRM?
New to Zoho Projects?
New to Zoho Sprints?
New to Zoho Assist?
New to Bigin?
Related Articles
Procurement Dashboard
1. What does this page cover? Learn about the procurement dashboard, its components, and the metrics with which you can access and interpret the data for informed decision-making and optimizing your business process. Understand more about basics of ...Add/Manage Procurement Requests
1. What does this page cover? Learn how to create and mange Procurement Requests (PRs) to ensure a smooth procurement process. Make sure you understand the procurement process before moving ahead. 2. Setting Up Procurement Request (PR) Requests mark ...Understanding Requests
1. What Does This Page Cover? Learn about requests and understand the crucial role they play in initiating and guiding the acquisition of required goods or services. 2. Overview In the procurement process, requests play a pivotal role in initiating ...Understanding Projects
1. What Does This Page Cover? Learn about the significance of Projects, why they are essential, and the impact they make in streamlining the procurement process. Understand more about the procurement process in detail. 2. Overview The concept of ...Introduction to Zoho Creator Procurement
Procurement is a constructive method used to streamline an organization’s procurement process in and out to achieve desired results while saving money, managing time, and establishing collaborative supplier relationships. The purpose of procurement ...
New to Zoho LandingPage?
Zoho LandingPage Resources