Slash Procurement Costs in R12 Procurement Process

Reduce procurement costs by cutting transaction overhead, controlling maverick purchasing, and realizing the entire value of your preferred supplier agreements.

Process Automation Lowers Transaction Costs – Transaction overhead accounts for a important share of the cost of procurement. Oracle iProcurement reduces the cost of thousands of procurement transactions by allowing the users to place thousands of orders for the products without costly intervention from purchasing professionals.

To help efficient processing, catalog content is maintained through a powerful online interface which generates real-time updates. This ensures the most up-to-date catalog information always exists to users when they browse in stores. Efficient and error-free transaction processing begins when vendors, buyers, and catalog administrators use powerful catalog maintenance they drive the real-time updates required to ensure accurate goods and pricing information. Once requisitions are approved, the intelligent workflow will automatically place the requested items on purchase orders and issue them to vendors.

Easy Single Point of Purchase Controls Maverick Purchasing – Maverick Purchasing is notoriously hard to manage because end users naturally route their purchases through the path of least resistance. But iProcurement is so convenient that it is actually easier for requesters to purchase through it than to go outside the system. By offering an easy-to-use single point of entry for all requisitions, IProcurement encourages requestors to use it every time. As former maverick spenders are drawn into using the system which guide their purchasing choices and captures detailed information on their purchasing.

Price Modeling and Compliance Realizes Preferred Supplier Savings – Pricing structures in dealer’s agreement can be so complex that savings from negotiated discounts unsuccessful in showing up correctly on purchase orders. iProcurement solves this issue with a formula-based engine which calculates the discounts based on complex price models. Pricing complexity is not shown from users, who simply see the discounted prices in their shopping carts.

Understanding the Oracle R12 Procurement Catalog and Catalog Schema

Oracle iProcurement and Purchasing have a single shared catalog data model which forms the basis of what can be more generally thought of as the procurement catalog which determines the various types of catalog content for your requesters can see and how that content is presented to them. The procurement catalog combines the features of previous catalog models and offers a number of significant capabilities and benefits as Catalogs are automatically and perpetually up-to-date and based on real-time data, Support for extensible base and category attributes to enhance the product data catalog. Oracle iProcurement users define base and category attributes for their specific requirements, and Support for price breaks based on shipping organization, quantity, and effective date range.

Understanding Catalog Schema – At a high level, the areas which define the catalog are catalog data and catalog schema.

Catalog data consist of products available for purchase. The associated prices for these items are also considered part of the catalog data.

Catalog schema is comprised of a combination of categories, category descriptors used to describe products in a particular category, and base descriptors which describe the product in the catalog.

The types of categories in the catalog that define the catalog’s hierarchy are:

  • Purchasing Item Categories, each product in the catalog must belong to a Purchasing Item Category which is recognized by many integrating Oracle Applications in addition to Oracle iProcurement.
  • Shopping Categories are used to group similar items for presentation to the iProcurement users and generally have names that are more shopper friendly than Purchasing Item Categories and are displayed significantly in many iProcurement pages to help requesters find what they are shopping for.
  • Browsing Categories is also known as navigation categories which define the category hierarchy which helps the requesters to browse for catalog items Browsing Categories can be either a parent or child to another category, but cannot contain any items.

The combination of categories and descriptors make up your catalog schema.

Creating a Purchase Requisition in Oracle Procurement Process

Purchase Requisition is a formal request intended to procure something which is required by the organization. This process is created and approved by the purchasing department which requires the products and services. It contains the description and quantity of the products to be purchased, bank account number, required a delivery date, and the amount of money that the department is authorized to spend for the goods.

Basically, requisitions are of two types they are Internal and Purchase Requisitions.

The Internal Requisitions are created if the goods are to be obtained from one inventory to another inventory location within the same organization. Here the source of the requisition would be inventory. There is no approval process for it.

Purchase Requisitions are created if the products are obtained from the external suppliers. Here the source of the requisition would be suppliers. The approvals are sent for purchase requisitions.

Requisition is divided into two parts: header and lines.

The header holds the information about the requisition that is related to all the lines where as the lines have the specific information about the item to be purchased. Then navigate to lines tab and select the item that you wanted to purchase and enter the quantity and need by date.

In the Source details tab, you can input detailed information. You can give a particular note to the customer which might give particular information related to this purchase. You can also add buyer’s name. Request for Quotation is required to check box denotes that the purchase of the item needs a request for quote.

Global is checked when a blanket purchase agreement for the entire organization exists for the item being purchased.

Owning organization displays the organization who owns the agreement and this is usually seen when an organization is using a centralized purchasing model.

Oracle Fusion Cloud Procurement Training

Oracle Fusion Procurement Cloud delivers significant capabilities for procuring to pay for indirect spend, supplier qualification management, sourcing, and contracts. With the upcoming improvements arriving in Oracle Cloud ERP for comprehensive supply chain management applications and direct fusion procurement capabilities, many of our customers are looking to adopt Oracle Fusion Cloud Procurement application. This process is intended to offer an introduction to Oracle Procurement Cloud and its capabilities.

ERPTREE is a leading Oracle Fusion Cloud Procurement Training provider. We deliver a wide range of training courses with a variety of trainers. We are proud to have helped thousands of students to learn oracle fusion applications and gain rewarding new careers. Our team is available to provide real-time and placement oriented Oracle Fusion Procurement training at our institute.

We have a team of Oracle Fusion Procurement certified trainers with ten plus fusion-cloud-procurement-coachingyears of experience. Our trainer has hands-on real-time Oracle Fusion Cloud Procurement project knowledge to advise students on right career paths and study program. Our trainers deliver real-life scenarios to student’s in the classroom, to gain knowledge and practice to significantly expand your skill sets. We offer a broad range of courses in the areas of Oracle Fusion Cloud Procurement application. We provide self-paced videos and instance access for learning at our training center by our experts.

At our ERPTREE, we are equipped with modern infrastructure and technologically advanced lab facilities. We have trained more than thousands of students who have progressed as professionals in the IT industry. We offer both online training as well as classroom training on Oracle Fusion Cloud Procurement so that you can choose the schedule as per your convenience. Our team is dedicated to delivering the best oracle training to achieve career goal with guaranteed placement support.