Overview of Purchasing in Oracle Apps:-

Create requisition to procure goods and service with supplier information, delivery instructions, multiple accounting distributions, and notes to buyers, approvers, and receivers. A request for quotation (RFQ) is sent to a supplier to request pricing and other information for an item. A quotation is the supplier’s response to that RFQ. Identify requisitions that require supplier quotations and automatically create a RFQ Or create manually and send it thru’ Fax or iSupplier portal. Record supplier quotations from a catalog, telephone conversation, or response from your RFQ. You can also receive quotations electronically and import as Quotations (catalog). Review, analyze, evaluate and approve supplier quotations. Create standard purchase order, BPA and blanket releases. Inform your suppliers of your shipment schedule requirements. Record supplier acceptances of your purchase order’s terms and conditions. Provide a quantity and price for each item you are ordering. Alternatively, you should also be able to create your purchase order simply by providing an amount if you are ordering a service that you cannot break down by price and quantity. Enter goods and service receipt information against the PO using routing controls viz: Direct delivery, standard receipt or standard receipt with inspection. Transfer and deliver goods using the Receiving Transactions window. If you want to perform an inspection transaction, you can open the Inspections window to specify accepted and rejected quantities.
This cycle involves following steps from creating a requisition to transfer the details to GL.
1. Create Requisition
Approve requisition
2. Create Purchase Order
Approve Purchase Order
3. Create Receipt after receiving the goods
4. Create an Invoice in AP
5. Pay the invoice
6. Transfer, Import and Post Journal to GL
BASIC COMPONENTS OF PROCUREMENT
REQUISITION
Requisition is nothing but a formal request to buy something (like Inventory material, office supplies etc) needed for the enterprise. Only

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