Oracle NetSuite ERP for Engineering, Procurement and Construction Industry

NetSuite Procurement promptly facilitates purchasing the best-priced products and services by directing POs to pre-negotiated contracts and approved suppliers.

Oracle NetSuite ERP allows businesses to save resources and time by managing the procurement process and vendors in a centralized location. It also improves visibility and promotes clear communication among all stakeholders.

Features of the Oracle NetSuite Procurement

Source Management

NetSuite offers various tools to pick vendors supplying the best yet affordable products for optimal profits. Its functionalities help businesses including construction firms by ensuring the suppliers have the same information for quote submission. Users can request for quote, utilize contracts, or apply blanket purchases for more efficient transactions.

Purchase Management

NetSuite Procurement Software simplifies the process of inventory maintenance by providing a way for companies to track purchase orders for optimal stock levels. Also, suppliers gain access to their accounts for monitoring their POs.

Invoice Processing

Oracle NetSuite has invoice processing functionalities to help businesses maintain vendor relationships. It automates receiving orders and prompt invoice and payment processing.

Vendor Management

NetSuite maintains information on all vendors in a central repository. For example, purchasing managers of construction companies can quickly access and sustain relevant data about supply chains. Vendors can also access their information through an online portal.

Benefits of Using NetSuite Procurement

Simplified Vendor Management

Businesses can find information about a specific supplier in an associated vendor record.

Decreased Cost-of-Goods (COGS)

NetSuite procurement makes updated information from a vendor easily accessible to purchasing managers. Thus, they can use economies of scale and negotiate better contracts.

Risk Mitigation

Oracle NetSuite monitors information so purchasing managers can determine supplier risks. Then, they can implement steps to prevent problems from arising.

Optimized Performance

NetSuite provides a vendor scorecard for purchasing managers to monitor supplier performance. It also allows vendor comparisons for businesses to find ways to optimize the buying process.

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