Procurement and Inventory Management Software

Procurement and inventory management software

The Procurement and Inventory management module of Horizon is very flexible, user-friendly, and excellent in enhancing the efficiency and productivity of your people and company.It offers you the best solutions in streamlining your procurement and inventory, reducing costs, and time consumed in performing day-to-day tasks. Businesses can manage diverse spend to ensure on-time delivery and to improve contract compliance, cost savings, and visibility into strategic procurement and inventory management.

The Procurement and Inventory management module of Horizon is completely integrated with other modules in ERP. The module offers a host of advanced procurement and inventory features such as material requisition, purchase inquiry, supplier quotation analysis, purchase orders, good receipt, purchase invoice, store issue, stock adjustment, and stock transfer.

Many features including management of multiple storage centers and locations, specialized inventory management features (serial numbers, batch tracking, and special stock), which are part of a diverse capability in inventory management, are included as standard functionality within the Procurement and Inventory Management module.

Benefits of procurement and inventory management

Manage the entire procure-to-pay process with capabilities to process requisitions, purchase orders, invoices, and payments in a single solution.

Improve business performance with real-time access to requisition, purchase order, and other key procurement information.

Send inquiries and receive a quotation from various vendors. Analyze the quotes and make the best-informed decision for your company.

Optimize procurement by using Supplier Contract for recurring needs with negotiated terms, tiered pricing, and pre-specified delivery schedules.

Realize savings by eliminating unauthorized spending and by consolidating multiple requisitions to negotiate favorable bulk-purchase pricing.

Simplify the procurement process on one system for employees to request and for purchasing departments to acquire goods and services.

Digital approval capabilities to authorize expenditures in accordance with company policy.Enforce compliance with purchasing thresholds and guidelines.

Receive items against the purchase orders as they come into the store and utilize the best storage location. Issue the stock to various jobs/departments based on requisition received. Perform the inventory transfer across locations, jobs, and bins with various costing methods available.

Accurately track and report costs by accounting for specific detailed landed costs and allocating inventory costs by value or quantity.

Control inventory replenishment with capabilities to minimize excess stock and fulfill orders on time.

Have the feature to create sub store locations and material at site to have better control of inventory for the running sites/jobs.

Gain real-time visibility into key inventory trends, on-time delivery metrics, etc.