Exercise 1: Create New Vendor.

In this exercise new vendor is created by filling in all the information like purchasing organization, Tax Information, Payment information etc.

Exercise: Create material Master for Trading Goods

In this Exercise Material is created with all the important information like Basic Data, Purchasing Data, and General Plant data in it.

Exercise: Extend Material master for trading goods.

In this exercise sales view of the new trading good is copied from Miami plant to the san Diego plant to maintain a different condition.

Exercise: Display Stock/requirement List

This exercise is used to display and review stock list for chain lock on hand balance and demand against this product.

Exercise: Create Purchase Requisition

Purchase requisition for 200 of the locks is created so that it may be placed out for bid so that vendor can be chosen to fill the expected needs associated with the sales campaign.

Exercise: Display Stock List

Since the Purchase order has been created for 200 locks, this event should be visible within the stock/requirement list with the date roughly 3 months from today and this exercise enables us to view the stock list.

Exercise: Request for Quotation

In this exercise separate Request for Quotations for several vendors is created. This process will be used to collect necessary pricing, delivery info. This info is required to select vendor to fill the need for chain locks. Three RFQs are created for three vendors VD-N-33-375 Dallas Spygear.

Exercise: Maintain Quotations from vendors

As we receive responses to RFQs submitted to vendors, it is necessary to maintain their respective data in procurement system so that comparison can be made to support the vendor selection process. In this exercise different prices are entered for different vendors.

Exercise: Evaluate Quotations on Prices

This exercise helps us generate a comparison list of the prices obtained from each of the vendors. The comparison list ranks the quotation by item from lowest to highest price.

Exercise: Reject Quotation

The successful vendor VD-N-33-375 has been selected using the criteria of lowest bidder. Now in order to notify unsuccessful bidders that their quotations are not accepted, vendors are flagged in order to be notified.

Exercise: Create Purchase Order Referencing an RFQ

In this exercise a Purchase Order is created by referencing the quotation received from successful vendor. All the necessary information is imported to new PO.

Exercise: Display Purchase Order

This exercise allows us to review the purchase order. This purchase order is the same what is sent to the vendor.

Exercise: Create Goods Receipt for Purchase Order

In this Exercise goods receipt document is created referencing purchase order thereby ensuring that we receive the products ordered within the timeframes requested and in quality condition.

Exercise: Verify Physical Receipt of Goods

In this exercise the current inventory information about chain locks is reviewed. The stock overview provides inventory information relative to this material for all organizational levels.

Exercise: Create Invoice Receipt from vendor.

Invoice received from vendor VD-N-33 -375 is entered associated with the recent PO and Goods Receipt. This invoice will be posted to an existing G/L expense account in chart of accounts and saved as account payable

Exercise: Create Goods Receipt for Purchase Order.

A goods Receipt document will be created referencing purchase order thereby ensuring that the products have been received ordered within the timeframes

Exercise: Create Invoice Receipt from vendor

Exercise: Post Payments to vendor

In this exercise Payment is issued to VD-N-33-375 to settle their entire accounts Payable Balance. A journal entry is made to accounts payable for vendor and to bank checking account in the G/L

Exercise: Display Vendor Line Items.

This exercise is used to display and confirm the activity and associated balance for the accounts payable for VD-N-33-375. In this exercise both a credit and debit postings the receipt of two invoices are shown.

Exercise: Display/Review G/L Account Balances and individual line items.