Purchase Request
PR is a lightweight web-form. 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.
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PR Approvals
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.
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Request for quote
Choose vendors to send RFQ. On submission of request, mail will be sent automatically to all selected vendors. Selected vendors will also be able to log into MEREDIAM and post their proposal. They can submit proposals multiple times during the configured window.
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Negotiation
Vendor submits proposal through MEREDIAM. Submitted information is displayed as comparison statement. Ranking of different proposals can be viewed based on different factors apart from price. Specific or all vendors can be provided extensions for submitting proposals after multiple interactions. This can happen after and before bidding.
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Bids
Negotiations with configurable reverse auction helps in securing best terms and cost savings. Selected vendors are provided with a ranking screen with real-time update on position held by specific vendor. Price or other terms used for ranking can be updated by vendors during the auction window to improve their positions.
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Vendor Selection
Eloborate vendor comparison statements based on multiple factors like cost, quality and reliability can be made available for stake holders to make well informed decisions.
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PO
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.
