Purchase Management refers to sourcing of goods & services from different suppliers. The Purchase Management extension allows you to manage suppliers, quotations, purchase orders, and incoming shipments. You can add suppliers to a product, specifying each supplier’s price & order quantity. A draft purchase order is created when any product goes out of stock. After receiving the incoming shipments and the inventories becomes updated. You can also receive partial shipments too.
Use Case of Purchase Management – The purchase management extension allows the store owner to create purchase orders, send a request for quotation, manage incoming shipments, and update incoming product information easily. It basically integrates purchase management functionalities in the store. The purchase orders can be created either manually or automatically. An automatic purchase order is created as soon as the product goes out of stock. After confirming the auto-draft purchase order, the store owner can then email the purchase order to the supplier from the store backend.
With the help of this extension, admin can easily manage the purchase orders and all the incoming shipment. The admin will be adding the suppliers first and assigning the products to the supplier. The admin can set the minimum and the maximum quantity that can be requested in a purchase order from the supplier. Admin will update the status of the purchase order accordingly. The purchase order in transit state will be tracked in incoming shipment. Once the order is received, the stock gets updated based on the number of products received in the incoming shipment. This way admin can easily maintain the purchase order requests made to the supplier. Now the Supplier can also register to have an account in the app and can view and manage the orders, products easily.
Purchase Management is a Magento 2 extension, which helps you manage purchasing and receiving stock from suppliers. All information about Purchase Order, Quotation and Suppliers are kept track and automatically updated in the system.
Purchase Management Functionality
Purchase Order : Here all the purchase orders will be listed along with the status of the order. You can also add new purchase order from here.
Create Purchase Order : From here new purchase order request can be created. You need to choose the supplier name and add the products to be requested from the supplier.
Add Supplier : From here you can add the supplier to which you will be sending the purchase order request. Also for each supplier you need to specify the maximum delay and the minimum time in which it must deliver the order.
Supplier : Here the list of suppliers is provided. You can easily edit or delete the supplier from here.
Assign product : From here the product can be assigned to the supplier. The auto suggest product list will appear.
Product : Here you have the list of products and the number of suppliers associated with the products.
- Manage the supplier list with summarized information: Supplier Name, Supplier Code, Contact Email, Status
- Create/edit a supplier with information: Supplier information, Mailing Address, Product List (SKU, supplier SKU, cost, discount, tax) and Pricelist
- Import products to the supplier with a CSV file
- Manage the pricelist for each supplier
- Remove the pricelist for each product
- Mass remove or mass update the pricelist of the supplier
- Import pricelist easily with a CSV file
- View the list of quotations on the website and their information
- Search, filter and sort the list of quotation on one or multiple conditions
- Export the list of quotations to CSV or XML files
- Create a new quotation with related information in the quotation listing page
- 5 ways to add/update products to a quotation: manually from all suppliers’ products, from low stock product list, from supplier needs product list, from back order product list and via a CSV file
- Send a quotation email to the suppliers
- View the list of POs on the website and their information
- Search, filter and sort the list of POs on one or multiple conditions
- Export the list of PO information to CVS or XML files
- Create a new PO with related information in the quotation listing page
- Convert a quotation to PO
- 5 ways to add/update products to a PO: manually from all suppliers’ products, from low stock product list, from supplier needs product list, from back order product list and via a CSV file
- Confirm or cancel a PO
- Send a confirmation request for a PO to suppliers
- Receive/refund products in a PO
- View the shortfall item list of a PO
- Print a PO as a PDF file
- View activity log (history) of a PO
- Mark a PO as Complete at any time
- View the list of PO from a supplier
- View/create/delete payment methods and payment terms for POs
Purchase orders are crucial. Every business is already doing them in some shape or form, so do so with structure and discipline to avoid vendor fallouts, stockouts, and poor customer service.