The product catalog facility of SRM provides information on products offered by suppliers or service providers that company employees can order. The primary elements in an SRM product catalog include product name, internal code, description, hierarchy, categorization, hierarchy, price, inventory and purchase information. After a product catalog is set up, company employees can create purchase requisitions to order from it. The product catalog can be used to enforce purchasing policies, so that employees can order only the items and services that are allowed for their buying legal entity.
The product catalog facility of SRM also supports the following:
Types and Families
SRM allows the user to define product types and product families and their hierarchical relationships. The fields in each type define the basic information (e.g., brand, model and part number) and rules (e.g., inventory accounting) for the products of that type.
SRM allows the user to record list unit price, discount and benchmark price (based on historical transactions) of each product.
SRM keeps track of inventory increments, transfers and decrements and provides the latest inventory information for each product in each warehouse.
Punch Out Catalog
SRM provides the framework for customization integration of procurement catalog to different online marketplaces. After the customization integration, the user can search and purchase the products from the punch out catalogs as if they are in the procurement catalogs.