What is iProcurement in Oracle Apps r12?

What is iProcurement in Oracle Apps r12?

Oracle iProcurement is the self-service requisitioning application that controls employee spending. Oracle iProcurement provides a Web-based shopping system that allows employees to create, manage, and track their own orders while the Purchasing department retains central control.

How do you create a purchase requisition in iProcurement?

Start a New Requisition:

When the shopping card is empty, click on tab at the header to start a new requisition. The screen will bring up a blank form to enter information of an item. This is the first line on your requisition.

Can we create purchase orders from iProcurement module?

Yes. To automatically create a purchase order after the requisition has been approved, select the checkbox Automatically create Purchase Order when my Requisition is approved.

What is content zone in iProcurement?

The combination of content zones that you assign to a Store determines what catalog content your users see. Oracle iProcurement offers four content zones that you can set up. You can create more than one of each type of content zone.

What is the difference between iProcurement and Oracle purchasing?

iProcurement gives you a much “richer” requisition interface arena than standard purchasing does via the forms. The other major difference is that core purchasing is still mainly accessed via forms while iProcurement is accessed via application framework pages.

What is P2P cycle in Oracle Apps?

Procure to Pay (P2P) Cycle Overview: ➢Procure to Pay Lifecycle is one of the important Process in Oracle Applications. ➢Procure to Pay means Procuring Raw Materials required to manufacture the final or finished Goods from a Supplier to Paying the Supplier from whom the material was purchased.

What is the difference between iProcurement and Oracle Purchasing?

How do I create a blanket PO in Oracle?

Creating a Blanket Purchase Order

1. Go to Transactions > Purchases > Enter Blanket Purchase Orders.
2. Enter information for each section described below as necessary.
3. Click Save.

What is p2p cycle in Oracle?

Oracle’s Procure-to-Pay is an integrated solution that links purchasing and payables to maximize return on invested capital. With Oracle Procure-to-Pay companies can reduce cost to improve margin, streamline procure-to-pay processes to improve working capital, and drive compliance to optimize asset usage.

What is smart form in iProcurement?

Oracle iProcurement
Smart Form Requisitions. Services, such as maintenance contracts, and some goods can be ordered using smart forms. The forms guide users through the process with a series of questions answered by selecting from the drop down list.

What are content zones?

Content Zones are areas throughout a website that you can define to render Interaction Studio campaigns. The web and server-side campaign templates that you create within Interaction Studio reference these Content Zones within campaigns.

What is Oracle iProcurement punchout?

What is a Punchout? Punchout provides the ability to link out from Oracle iProcurement to a vendor’s eCommerce site to shop, place items into a cart, and return that cart to their own procurement application to continue purchasing within their designated workflow.

What is Oracle procurement?

Oracle Services Procurement is the enterprise application that enables complete control and oversight for services spending. Although most organizations spend a substantial percentage of their revenue on services, few have full visibility into costs or supplier performance.

What is the difference between a PO and PR?

Purchase Order: What’s the Difference? The main difference between a purchase requisition and a purchase order is that a purchase requisition is for getting internal permission to buy goods or services, whereas a purchase order is for actually purchasing the goods or services.

What is 2 way 3 way and 4 way matching in Oracle Apps?

Matching is a process performed for goods and services ordered through a purchase order that takes place during the online invoice approval process. Invoices are matched to purchase orders (2 way matching), receiving information (3 way matching), and inspection information (4 way matching) as applicable.

How do blanket purchase orders work?

Blanket Purchase Orders (BPO): Also known as standing orders, blanket purchase orders are used when a business needs the same goods on a recurring basis over a specified period, such as an entire year. The delivery schedule may or may not be predetermined.

What is Oracle blanket PO?

Blanket purchase orders define a pre-determined price for a set quantity of items you will buy from a vendor during a time period. The blanket purchase order specifies the item, price, quantity, terms and effective time period.

What are the accounting entries in p2p cycle?

Accounting entries for procure to pay

• Delivery of Expense Items PO Distribution Charge A/c Dr To Receiving Inspection A/c Cr 3. Purchase Return Inventory AP Accrual A/c Dr To Inventory A/c Cr Payables/AP module: Event Accounting Entries 1.
• Credit Memo Liability A/c Dr To AP Accrual A/c/ Expense A/c Cr.

What is non catalog requisition in Oracle Fusion?

Noncatalog requests allow you to purchase goods and services not available in the catalog. You can use noncatalog requests to order goods billed by quantity, services billed by quantity, or goods or services billed by amount.

What are the five pillars of procurement?

The 5 Pillars of Procurement and Supply Chain Management

• Value for Money. In short this means that it is not necessarily the tender with the lowest price that is going to win the bid.
• Open and Effective Competition.
• Ethics and Fair Dealing.
• Accountability and Reporting.
• Equity.

What are the 7 steps of requisition procedure?

What are the 7 Steps of Purchase Requisition?

1. Fill in the Purchase Requisition form (PR)
2. Purchase Requisition approved by internal department.
3. Purchase Requisition approved by purchasing department.
4. Receive Quotation.
5. Create Purchase Order (PO)
6. Items delivered.

Which comes first PO or invoice?

The creation of a purchase order is the first step in a business transaction, it is issued by the buyer and authorizes a seller to provide a product or service at a specified price. The invoice is a bill issued by the seller when that product has been delivered or the service has been completed.

What is PO and Non PO invoices?

Key Differences

What is P2P cycle in Oracle?

When should we not use a blanket order?

When not to use a blanket purchase order

• The price is not known at time of purchasing.
• The price is subject to change without notice.
• Quality of product or service is questionable.