Every organization will generally need essential vendor management Software that can greatly help them to effectively control costs and to reduce any potential risks that are associated with their vendors. Furthermore, with the guaranteed help of all the vendor management tools, any full-fledged business can almost expect such excellent service deliverability and drive value from vendors. This software enables you to find the most suitable vendors and to provide a better platform for the purpose of price negotiation. Also, it helps with the entire process of vendor onboarding, even gaining the overall quality of work, measuring vendor performance, as well as in managing vendor relationships all effectively at one place. It does not necessarily affect much, whether it is a matter of the actual vendor management or the supplier management.
As we know,
Every company aims at maintaining a healthy relationship with its suppliers as well as its vendors.
In order to keep the business successful, both these sides are a very crucial resource for any business.
That is why the vendor management system functionality enables you to have efficient management over the business as well as in tracking these vendors while doing business with them. This functionality is also all about the process of approving or disapproving vendors for the basic use of the product and the purchase flow.
An “Approved Vendor” is ideally the vendor that meets all the standard and regulatory requirements that should include a signed off packet containing the documentation, filled with the needed regulatory departments.
In this pretext of having a vendor management system in odoo, some of the major terminologies include:
- “Preferred Supplier” which is any supplier that is potentially listed with a product item master.
- Product workflow that states how an ideal part of the document workflow includes the draft prototype WIP, some prototype releases, Production WIP, Production Release, and Obsolete.
Some of the essential user Groups include:
- “Viewer”: The group of users who tend to have only ‘read’ access.
- “Editors”: The group of users who are basic document ‘editor’ users.
- “Purchasing Users”: The group that consists of users who have access to all major ‘purchase functionality’ and inherits the ‘Editors’ accessibility eventually.
- “Document Control”: The group of users who tend to inherit all the accessibility of ‘Editing’ as well as ‘Purchasing’ and also ‘controls’ the overall vendor management system functionality.
It is vital to note that in a vendor management system, only the document control group users have access to change a vendor’s approval state. So:
- If a Vendor is approved, it can then only be edited by the assigned Document Control users.
- If any other group of users try to edit the approved vendor form, then the system will raise a warning message.
- Only the Approved suppliers can be set as the ‘Preferred Supplier’ for that given product. (If any unstated or unapproved supplier is being added to the production state product, then the system will restrict the process by escalating the given warning message. Only all approved vendors are shown specifically in the supplier field)
- Only the Document Control group users can essentially add/remove an approved supplier who is set as a ‘Preferred Supplier’ for any specific under the “Production” workflow.
What is odoo vendor management?
Odoo Vendor Management feature ideally enables all its users to efficiently manage as well as to track vendors of that business. This helps them to define all the various types of vendors such as the Import vendors, all the domestic vendors, as well as freight vendors etc.
How to create a vendor in odoo 14?
Essentially a vendor form contains fields such as the name of their company, Company Address, specific VAT, Phone or Mobile along with Email, Website Link as well as Vendor Tags. It is even possible to add multiple contacts within a vendor form, where for each existing contact you can go ahead and provide a Contact address, automated Invoice Address, specific Delivery address, and other addresses.
Vendor Price List in Odoo 14
Under purchase configuration, you need to click on the purchases to reveal the pricelist dashboard that contains all the recent purchases made along with the specifics of the currency, from which company, the quantity and all in categorized format. This way you can see all your purchases in one single unit than to hover across each tab.
Odoo Vendor Portal Features
Odoo Vendor Portal provides a separate and unique menu called the ‘Vendor Portal’ in Odoo for effective and adequate purchase management for the Odoo admin. The Module also serves as an effective Vendor Management System while operating using Odoo.