Approved Rate Contracts
Purchase Admin Role to user
Quotation » Approved Rate Contracts
- For consumables, quotations are invited for a list of items from different vendors.
- Purchase department gets a rate list approved by the purchase negotiation committee, which is valid for a certain period of time.
- All the future POs that are generated during that particular period for the items listed in Rate List are generated as per the approved rate list price.
- Purchase related steps such as inviting quotations to reaching negotiated price is not done while generating POs for the items listed in Rate List during that period.
- While generating POs for items mentioned in the Rate List, a copy of approved Rate List is given to vendor with the PO.
- If an item is in the rate list, then system should proceed towards preparation of PO rather than starting again from RFQ.
- Items not in Rate can be separated and different purchase orders can be given to different vendors based on competitive price.
- There can be different Rate Lists for different type of items.
- System should alert in case if rate period expiry for an item is nearby.
Screen Shots / Steps
Approved rate contract
Vendor wise analysis
Status pending with approval authority
Status approved from approval authority
Saved rate contract