At SourceDay, our supply chain solution helps improve the relationship between you and your suppliers. We streamline your PO changes so you don’t need to worry about late or missing shipments. Our software allows you to sync your communications onto one platform to make the process easier for all parties.
You’re likely thinking about how to manage your data to help improve your business functions. Here are four ways you can enhance your supply chain and PO management with ERP platforms:
Hire a Purchase Manager
ERP integration requires a person who will monitor the whole process of PO management. A purchase manager (PM) can help your business boost its supply chain cycle and improve productivity for each department.
Here are the top three things a PM can do to bring you results for your business:
- Build and maintain relations with each vendor
- Clear invoices that meet your business goals and abide by business rules
- Check that each PO is not duplicated and doesn’t get lost in any email groups
Hiring a PM will help you streamline your PO process and provide clarity for your team and suppliers.
Embrace Automation in Your Business Plans
Automation can make your PO management more reliable and effective. You can install automation-driven systems in two ways: merging your current software or deploying a more accurate supply chain solution. Al-based platforms can help you take advantage of expedited processes that would otherwise take weeks to complete.
Here is a list of benefits automated PO software can provide your business:
- Lower rouge spending
- Appointed responsibility tiers with approval workflows
- Fewer data entry tasks
- Added transparency and fewer errors
- Reduction or elimination of wasted resources like paperwork
- Data insights available at each stage of a transaction, from PO request to payment
These platforms can help make life easier for you when handling P2P and give your business a clear edge.
Prioritize Your Vendors
You can have a more efficient supply chain by cutting down on the number of vendors on your system. A leaner, more tailored supply chain will help save you time and money on less ideal vendors.
ERP integration platforms can help you prioritize your ideal vendors instead of just cutting others from your list. You can fulfill the same task of extenuating your vendor base without harming relations with other vendors. Al-based platforms help you spend more time building relationships with your preferred vendors.
As you build healthy relationships, vendor performance will be on track to improve and lead you to a faster PO cycle.
Establish Clear Purchase Guidelines for Your Team
PO software lets you set up simple processes and keep track of order-related tasks like emails, chats, and online docs. ERP integration platforms enable you to add paper docs that come via fax to your online system. You’ll receive full spending transparency, auto-approval avenues, contract guidance, and three-way affirmation.
Here is a series of PO process steps that come with an auto-integration platform:
1.) PO Request From Your Team Members
Your team members use a merged catalog of goods and services from pre-approved vendors. They choose which goods to buy and submit their PO requests to their PM for auto review. Each of their requests is saved to the doc library so you can refer to them in the future.
2.) PO Approval From Your PM
PM check the PO requests to see if they match the goals and rules of your business. You can set auto-reminders and flags to make the approval process more efficient for them. The PM can use ERP software to help arrange POs in the order of urgency. They can make urgent purchases with your current business budget and buy less important goods as more funds become available.
3.) PO Creation
A PO becomes active when order details auto-populate from the supply chain and control management portal. The ERP integration platform sends the PO to the vendor and creates a contract between them and your business.
4.) PO Receipt Tracking
Each PO has tracking from the item creation to every stage of shipment. You can auto-record any updates that relate to a PO.
When an order arrives, the product will go through an exam process. The platform will keep note of any positive or negative aspects you find in a PO. Shipping docs and the original PO will get compared in the system. The ERP software will send out alerts if it finds any errors.
5.) PO Payment and Closure
The ERP platform has auto three-way cross-inspection that helps you lower payment times. If there are no errors, the accounts payable will sign off on the invoice against the PO, issue payment, and close the PO. Each doc will head straight to the secure doc library.
Clear PO guidelines will help you improve your workflow. Your business will be on track to save resources and time when you go with an ERP platform.
SourceDay Bridges the Gap Between You and Your Suppliers
SourceDay improves supply chain performance and strengthens supplier relationships. Schedule a demo today and let us help you reach your goals.