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what is the relations btw Requisition , RFQ,Quotations,Purchase Order,Reciepts [message #334245] Tue, 15 July 2008 23:49 Go to next message
karunakar_adepu84
Messages: 43
Registered: January 2008
Member
Hi,
I am bit confusing with these terms.
what is the relations btw Requisition , RFQ,Quotations,Purchase Order,Reciepts.

what exactly the approval means?
which one is manditory in this process.
can we create purchase order without Requisition,RFQ,Quotations.
why we need to approve the each one in this process?
icon14.gif  Re: what is the relations btw Requisition , RFQ,Quotations,Purchase Order,Reciepts [message #334460 is a reply to message #334245] Wed, 16 July 2008 10:56 Go to previous messageGo to next message
kiran2891
Messages: 5
Registered: July 2008
Junior Member
hai,

requistion is nothing but your internal employee make a request to the purchasing department for some required material.

when the purchasing dept. employee will receive requisition he will preapare a RFQ(request for quotation) means he is requesting the supplier for the particular goods to send a quotation.

quotation contains whatever the item required and terms and price etc., this will send by supplier to the purchasing dept. of the company.

after quote analysis(which is best quotation), the purchasing dept. employee prepares a purchase order(contains item name, qty required etc.,) and he sends to supplier

the supplier send the goods with a document called Receipt. it contains how many items he sent.

i tried my level best.

all the best, bye
G K
Re: what is the relations btw Requisition , RFQ,Quotations,Purchase Order,Reciepts [message #334497 is a reply to message #334460] Wed, 16 July 2008 20:35 Go to previous messageGo to next message
karunakar_adepu84
Messages: 43
Registered: January 2008
Member
Thankq for your Reply, It is really cleared my confusion.

& one more thing I want to know
what is approval means?

is that manditory to do?

please reply soon
Re: what is the relations btw Requisition , RFQ,Quotations,Purchase Order,Reciepts [message #334701 is a reply to message #334497] Thu, 17 July 2008 13:48 Go to previous messageGo to next message
kiran2891
Messages: 5
Registered: July 2008
Junior Member
hai

if there are 4 employees in the company, just for example,

1. Manager
2. Assistan manager
3. Asst.general manager
4. clerk

a clerk can purchase upto 1,00,000 items without telling to his superiors, he has only that permission, if beyond that he can't.
that purchase order can't approve by the clerk, so it goes to the next person asst.general manager, it follows like that.

so every company has restrictions on purchases. every one will have no right to purcahse for amount whatever they want, think
logically is it is secure to give permission to purchase for any amount of money to all the employees in the company.

so here approval takes place major role. if there is a requirement for purcahsing of 1000000, only manager can approve that type of purcahse order.

if any confusion feel free to ask.

yes u can create purchase order without requisiton, RFQ and quotation for the old suppliers, becuase u know their prices and terms and all the conditions, so why again from starting u can directly creat purchase order.


Re: profiles [message #334874 is a reply to message #334701] Fri, 18 July 2008 08:40 Go to previous message
karunakar_adepu84
Messages: 43
Registered: January 2008
Member
hi kiran,
thankq for wonderful answers.

one more doubt.

when I am using profiles. the situation is,

I have a user some X, I attached profle name called GL SET OF BOOKS AT USER LEVEL with the value of Vision ITALY. I saved this transactions.
I logged in with X user, I am going general Ledger Responsibility in that I selected Jornels In That we have to find CURRENCY,CALENDER AND CHART OF ACCOUNTS like Vision ITALY,
but I am getting USD currency. what is the problem?
reply soon.
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