Navigating the Procurement Tracker Report
Overview
This article walks you through how to open and use the Procurement Tracker Report. It explains the main features—such as tracking purchase orders, monitoring supplier performance, and reviewing spending patterns—and shows how these tools can help you manage procurement tasks more efficiently.
Step-by-Step Guide to Accessing the Procurement Tracker Report
1. Navigating to the Procurement Tracker
To access the Procurement Tracker Report, follow these steps:
Go to the Home Dashboard: Log in to your iVendNext account and navigate to the Home dashboard.
Select the Buying Module: From the Home dashboard, click on the Buying module.
Locate Key Reports: Under the Key Reports section, click on the Procurement Tracker shortcut.
2. Understanding the Report Layout
Once you’ve accessed the Procurement Tracker Report, you’ll see a detailed list of all ongoing procurement transactions. The report is divided into several key columns, each providing critical information about the procurement process:
Requisition Details: Information about the purchase request, including the user who requested it and the warehouse it was requested from.
Item Details: The name and quantity of the item being procured.
Estimated vs. Actual Cost: A comparison of the estimated cost at the time of requisition versus the actual cost of obtaining the item.
Delivery Status: The current status of the delivery (e.g., pending, in transit, delivered).
Billing Status: Information on whether the invoice has been issued or paid.
Key Features of the Procurement Tracker Report
1. Real-Time Monitoring of Procurement Activities
The Procurement Tracker provides real-time updates on the status of goods in the procurement pipeline. This allows you to:
Track Delivery Progress: Monitor the status of deliveries to ensure they arrive on time.
Manage Billing: Keep track of invoices and payments to avoid delays in supplier payments.
Identify Bottlenecks: Quickly identify and address any issues in the procurement process.
2. Cost Comparison (Estimated vs. Actual)
One of the most valuable features of the Procurement Tracker is the ability to compare the estimated cost of goods at the time of requisition with the actual cost of obtaining them. This helps organizations:
Control Costs: Identify discrepancies between estimated and actual costs to improve budgeting accuracy.
Negotiate Better Deals: Use historical cost data to negotiate better terms with suppliers.
3. Comprehensive Requisition Details
The report provides detailed information about each purchase request, including:
Requesting User: The person who initiated the purchase request.
Warehouse: The location where the goods are needed.
Item Quantity: The quantity of the item requested.
Important Sections to Highlight
Requisition Details: This section provides critical information about the purchase request, including who requested it and where the goods are needed.
Estimated vs. Actual Cost: This comparison is crucial for cost control and budgeting.
Delivery and Billing Status: These columns help you monitor the progress of deliveries and manage supplier payments.
How to Use the Procurement Tracker for Effective Procurement Management?
You can use the Procurement Tracker Report for effective procurement management
1. Regularly Review the Report
Make it a habit to review the Procurement Tracker Report regularly. This will help you stay on top of ongoing procurement activities and address any issues promptly.
2. Use Filters to Focus on Specific Data
The report allows you to filter data by various criteria, such as:
Supplier: Focus on transactions with specific suppliers.
Item: Track the procurement status of specific items.
Delivery Status: Identify pending or delayed deliveries.
3. Take Action Based on Insights
Use the insights gained from the Procurement Tracker to:
Follow Up on Delayed Deliveries: Contact suppliers to resolve any delays.
Adjust Budgets: Use cost comparison data to refine future budgets.
Improve Supplier Relationships: Address any recurring issues with suppliers to improve overall performance.
Pro Tip: Use the Procurement Tracker Report to identify trends in procurement delays or cost overruns. Addressing these issues proactively can lead to significant improvements in your procurement process.Related Articles
Monitoring Procurement Processes
Overview This article outlines the key features and functionalities of the Procurement Tracker Report, explaining how to access, interpret, and use it to optimize your procurement processes. 1. What is the Procurement Tracker Report? The Procurement ...Procurement Workflow
Overview iVendNext streamlines inventory procurement with a structured workflow — from Material Request to Purchase Receipt. This article explains the end-to-end procurement process in iVendNext. 1. Overview of the Procurement Workflow The ...Material Requests and Their Role in Procurement
Overview This article outlines the key aspects of Material Requests in iVendNext, including how to create them, their role in the procurement process, and how they integrate with other modules such as Purchase Orders and Request for Quotations ...Navigating the Supplier Portal
Overview This article outlines the steps to navigate and use the Supplier Portal effectively. 1. Introduction to the Supplier Portal The Supplier Portal is a dedicated interface within iVendNext that enables suppliers to log in, view Request for ...Navigating the Sales Funnel Report
Overview This article will guide you through the key features of the Sales Funnel Report, how to interpret its data, and how to use it to enhance your sales performance. 1. Overview of the Sales Funnel Report The Sales Funnel Report is designed to ...