Purchase Essentials

The Buying module in ARC is designed to manage procurement processes and optimise supplier relationships.

Requests for Quotation (RFQs): Evaluate quotations from suppliers to make informed purchasing decisions.

Supplier Management: Maintain detailed records of suppliers, including contact details, terms, and performance metrics.

Purchase Orders: Create and track purchase orders to ensure timely and accurate order fulfilment.

Purchase Invoices: Process and manage invoices from suppliers, including payment handling.

Stock Management: Update inventory levels and manage stock replenishment.

The Buying module helps businesses streamline their procurement activities, control purchasing costs, and strengthen supplier relationships.

Supplier Group

A Supplier Group is an aggregation of suppliers that are similar in nature or function.

A supplier may be distinguished from a contractor or subcontractor, who typically contributes specialised input to deliverables. A supplier is also known as a vendor. Suppliers can be categorised based on the goods or services they provide.

ARC allows you to create custom supplier categories known as Supplier Groups. For example, if your suppliers consist mainly of pharmaceutical companies and FMCG distributors, you can create separate Supplier Groups for each category and name them accordingly.

You can classify suppliers into predefined types such as Distributor, Electrical, Hardware, Local, Pharmaceutical, Raw Material, and Services. This classification helps streamline accounting and payment processes.

Prerequisites

Supplier

How to Create a Supplier Group

STEP 1   Go to Supplier Group list and click on 'New'.

STEP 2   Enter a name for your new Supplier Category.

STEP 3   Select a Parent Supplier Group, if applicable.

STEP 4   Tick 'Is Group' to make it a Parent Supplier Group.

STEP 5   Assign a default Payment Terms Template if required.

STEP 6   Click Save.

Supplier

Suppliers are companies or individuals who provide products or services.

How to Create a Supplier

STEP 1   Go to Home > Buying > Supplier > Supplier and click 'New'.

STEP 2   Enter the Supplier name.

STEP 3   Select the Supplier Group.

STEP 4   Click Save.

Supplier Transactions Overview

Once all necessary details are filled and saved, the following options will be available in the supplier dashboard:

Request for Quotation: RFQs created for this supplier.

Supplier Quotation: Quotations submitted by the supplier and recorded in the system.

Purchase Order: Purchase orders created against this supplier.

Purchase Receipt: Goods received and recorded from this supplier.

Purchase Invoice: Invoices created for purchases from this supplier.

Payment Entry: Payments made against supplier invoices.

Pricing Rule: Pricing rules linked to this supplier.