Businesses can use the ProcurePulse Economic Order Quantity (EOQ) System in inventory management to decide how many items to order and maintain in stock. The goal is to reduce inventory's overall costs. Businesses can prevent ordering excessive or insufficient inventory by using EOQ. It aids companies in managing the amount of cash held in inventory.
Choose Items
A convenient feature in ProcurePulse allows users to designate items falling under Economic Order Quantity (EOQ) Purchase. This feature controls the procurement for optimal inventory management.
EOQ Quantity
ProcurePulse allows users to update Economic Order Quantity (EOQ) and automatic purchase triggers.
The platform facilitates vendor selection and mapping with asset categories for streamlined EOQ purchases across a variety of items.
Purchase Order
ProcurePulse enhances efficiency by automating the generation of Purchase Orders (PO) when stock levels reach Economic Order Quantity (EOQ). This ensures a seamless procurement process, optimizing inventory management and minimizing manual intervention.
Vendor Portal
Triggering automated processes, ProcurePulse promptly notifies vendors when it generates a Purchase Order (PO) upon reaching EOQ levels. The transparent communication is further reinforced by posting the PO on the ProcurePulse Vendor Portal, fostering collaboration and streamlining the procurement workflow for enhanced efficiency.
More Procurement Functions
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