S2P PLATFORM
MEREDIAM Source 2 Pay
MEREDIAM Source 2 Pay
01
Frequently procured items can be pre-negotiated at a specific price for a period of time. Price and duration can be negotiated with multiple vendor partners based on geography, capacity etc. These items can be added to a catalogue from which orders can be placed without RFQ process.
02
Price, duration and selection of vendors can be done through a regular RFQ process. Vendor comparison charts shall be available in MEREDIAM at the end of proposal submission and bidding process.
Selected vendors will receive purchase orders on approval by stake-holders.
03
On approval by appropriate authorities, contracts / POs with commitment of purchase of a specific quantity during a particular period are sent to vendor partners. These contracts / POs are not commitments to vendors for taking delivery of any material.
04
PR for Catalogue purchase follows the standard procedure. PRs go through an approval cycle. If the item requested is budgeted, then the system checks for available budget and the process stops with intimation to stake holders if budget is not available.
05
Budget can be set for different departments or cost centers. This can be further grouped for specific asset groups. Once budget reduces below a pre-defined threshold, the system intimates all stake-holders for necessary action.
06
Mutliple levels of approvals can be configured based on cost, asset group, department or cost center. Activities of approvers are logged and based on approval or rejection, the process moves forward or backward with intimation to stake-holders.
07
On successful authorisation by all approvers, the system generates firm Purchase Orders and sends them to respective vendors by mail along with terms, agreements or contracts.
MEREDIAM is a cloud based Global Sourcing Platform that provides greater spend efficiency while reducing costs. MEREDIAM streamlines all aspects of the sourcing process.
Multiple modules can be plugged into the MEREDIAM platform based on requirements. This makes rapid implementation with high scalability.
