Podcast
Questions and Answers
What are the two primary groups into which control points are divided?
What are the two primary groups into which control points are divided?
Which of the following is an example of a qualitative control point?
Which of the following is an example of a qualitative control point?
What is primarily measured by control points based on quantitative observation?
What is primarily measured by control points based on quantitative observation?
What type of observations do detectors typically make in quantitative control points?
What type of observations do detectors typically make in quantitative control points?
Signup and view all the answers
Which quality control process is primarily focused on final approval?
Which quality control process is primarily focused on final approval?
Signup and view all the answers
What is the role of the Deputy General Manager in relation to the General Manager?
What is the role of the Deputy General Manager in relation to the General Manager?
Signup and view all the answers
What is the purpose of message templates in the approval system?
What is the purpose of message templates in the approval system?
Signup and view all the answers
What defines when a record requires approval?
What defines when a record requires approval?
Signup and view all the answers
Which of the following is an example of an approval rule?
Which of the following is an example of an approval rule?
Signup and view all the answers
How can dynamic message templates be created?
How can dynamic message templates be created?
Signup and view all the answers
Which of the following statements about endorsement tracking is accurate?
Which of the following statements about endorsement tracking is accurate?
Signup and view all the answers
What must be defined to establish an endorsement route?
What must be defined to establish an endorsement route?
Signup and view all the answers
In what situation would a record typically be sent for approval?
In what situation would a record typically be sent for approval?
Signup and view all the answers
What is the primary purpose of purchase requests in the procurement process?
What is the primary purpose of purchase requests in the procurement process?
Signup and view all the answers
Which action can be taken if a purchase request is rejected during the approval process?
Which action can be taken if a purchase request is rejected during the approval process?
Signup and view all the answers
What information is recorded in the ERP system during the bidding process?
What information is recorded in the ERP system during the bidding process?
Signup and view all the answers
How can suppliers modify their bids in response to inquiries?
How can suppliers modify their bids in response to inquiries?
Signup and view all the answers
Which of the following is NOT part of the procurement process as outlined?
Which of the following is NOT part of the procurement process as outlined?
Signup and view all the answers
What role does the ERP system play in monitoring requests?
What role does the ERP system play in monitoring requests?
Signup and view all the answers
During which phase of procurement are market inquiries made?
During which phase of procurement are market inquiries made?
Signup and view all the answers
What can be added to bids in the ERP system for better evaluation?
What can be added to bids in the ERP system for better evaluation?
Signup and view all the answers
What determines the quality control status during the final approval process?
What determines the quality control status during the final approval process?
Signup and view all the answers
Which of the following is NOT included in the determination of inventory?
Which of the following is NOT included in the determination of inventory?
Signup and view all the answers
What happens to products waiting in the quality control warehouse after the approval process?
What happens to products waiting in the quality control warehouse after the approval process?
Signup and view all the answers
What is one of the two main issues of inventory management?
What is one of the two main issues of inventory management?
Signup and view all the answers
What is the purpose of the final quality control order?
What is the purpose of the final quality control order?
Signup and view all the answers
What is specifically defined as a result of the approval process in quality control?
What is specifically defined as a result of the approval process in quality control?
Signup and view all the answers
How many types of reports can ERP systems generally support in inventory management?
How many types of reports can ERP systems generally support in inventory management?
Signup and view all the answers
The measurement of inputs in quality control is performed how?
The measurement of inputs in quality control is performed how?
Signup and view all the answers
What does the Physical Inventory List report show?
What does the Physical Inventory List report show?
Signup and view all the answers
How is the Stock Turnover Rate calculated?
How is the Stock Turnover Rate calculated?
Signup and view all the answers
What key detail must be consistent in the Financial Inventory List?
What key detail must be consistent in the Financial Inventory List?
Signup and view all the answers
Which report details the chronological listing of incoming and outgoing stock movements?
Which report details the chronological listing of incoming and outgoing stock movements?
Signup and view all the answers
What is the purpose of a Stock Level Report?
What is the purpose of a Stock Level Report?
Signup and view all the answers
Which report shows the beginning, entry, exit values, and end of a certain period for inventories?
Which report shows the beginning, entry, exit values, and end of a certain period for inventories?
Signup and view all the answers
What does the General Movement List need to be consistent with?
What does the General Movement List need to be consistent with?
Signup and view all the answers
What role do procurement management reports play?
What role do procurement management reports play?
Signup and view all the answers
Study Notes
Procurement Process
- The Procurement Process is a series of steps that occur when procuring goods or services.
- The process begins with a Demand from a department or employee for specific goods or services.
- This Demand is reviewed and approved by authorized personnel within the organization.
- The approved Demand triggers the Bidding process, where multiple suppliers are selected and requested to provide quotes for the desired goods or services.
- Bids from suppliers are recorded and compared, and negotiations for price, delivery time, and other terms can be made.
- Once a supplier is selected, a purchase Order is generated and sent to the supplier.
- The supplier is required to provide a Waybill for the delivery of the goods or services.
- An Invoice is then provided by the supplier for payment.
Bidding Process
- The Bidding process involves identifying multiple suppliers that can fulfill the Demand.
- Bids are submitted and recorded in the ERP system, allowing for easy comparison.
- Users can revise bids based on criteria such as price, delivery time, or quality.
- Additional materials or documents can be added to the Bids in the system.
- Role definitions can be set, ensuring that if the designated user is unavailable the process can still proceed without delay.
Message Template Definition
- Message Templates can be created for each screen where approval is required.
- These Templates simplify record filtering and provide users with quick information about the pending approval.
- Users can choose between manually written and dynamic Message Templates, the latter using information from the screen for greater flexibility.
Endorsement Rule Definition
- An Endorsement Rule needs to be defined before approval can be assigned to a specifc screen.
- These rules determine which records will require approval.
- Endorsement Rules can be based on various criteria, such as financial thresholds, quantity, or other project-specific information.
Quality Control Management
- Quality Control Management involves establishing a system to ensure that goods or services meet required standards.
- This system is built upon several components, including the definition of Control Points, Inspection References, and Control Groups.
- Control Points can be divided into quantitative (measurable) and qualitative (non-measurable) categories.
- Control Groups categorize control points based on specific characteristics.
- Data from Control Points is used to populate Control Orders, which are analyzed and reviewed before approval is granted.
Final Quality Control Approval
- Final Quality Control Approval involves assessing the results of the Control Order.
- An authorized person reviews this information and determines an approval or rejection based on pre-defined criteria.
- The approval process may include assigning a warehouse for the product.
- The approval or rejection status dictates the destination of the product, including shipment to a warehouse or disposal.
Inventory Management Reports
- Inventory Reports provide a comprehensive picture of the goods on hand and their value.
- ERP systems can generate different Inventory Reports to meet specific needs.
- Physical Inventory List: quantifies the stock owned by the company at a given time, based on warehouse location.
- Financial Inventory List: provides the value of stock, factoring in production and acquisition costs.
- General Movement List tracks the stock movement history, providing insights into additions, removals, and the current state of inventory.
- Stock Statement provides a chronological record of stock movements within the warehouses and associated information.
- Stock Turnover Rate measures the frequency of stock replacement, calculating the number of times stock is sold and replenished in a year.
- Stock Level Report compares available stock and open orders with minimum order levels to inform potential reordering needs.
Procurement Management Reports
- These reports are used to evaluate and assess procurement activities periodically.
- They focus on analyzing and evaluating the performance of suppliers, inventory levels, and overall financial aspects of the procurement process.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz provides an overview of the procurement process, detailing the series of steps from demand initiation to invoice processing. Learn about key components such as bidding, order generation, and supplier management. Perfect for those looking to understand the essentials of procurement in a business context.
