Oracle Fusion Cloud Procurement is an integrated source-to-settle suite that automates business processes, enables strategic sourcing, improves supplier relationship management and simplifies buying resulting in lower risk, improved savings and greater profitability.
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Oracle Fusion Cloud Procurement is a cloud-based solution that provides end-to-end functionality for managing the procurement lifecycle, from sourcing to payment. It consists of the following modules:
- Supplier management: Manage supplier information, qualifications, performance, risk and compliance across the entire supplier lifecycle.
- Sourcing: Create and manage sourcing events, negotiate contracts and awards, and collaborate with suppliers online.
- Procurement contracts: Create, review, approve and execute contracts with suppliers, ensuring compliance with policies and regulations.
- Purchasing: Automate requisitioning, ordering, receiving and invoicing processes, leveraging catalogs, agreements and approvals.
- Direct procurement: Manage the procurement of direct materials for manufacturing and distribution, integrating with inventory, planning and costing systems.
- Procurement analytics: Monitor and analyze procurement performance, spend, savings, compliance and risk using dashboards, reports and alerts.
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Oracle Fusion Cloud Procurement helps you to:
- Reduce costs: Achieve savings through strategic sourcing, contract management, spend analysis and supplier consolidation.
- Improve efficiency: Automate and streamline procurement processes, reducing cycle times, errors and manual work.
- Enhance visibility: Gain real-time insight into procurement activities, spend patterns, supplier performance and risk exposure.
- Increase collaboration: Foster better communication and coordination with internal stakeholders and external suppliers.
- Manage risk: Mitigate supply chain disruptions, ensure contract compliance and enforce procurement policies.
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To get started with Oracle Fusion Cloud Procurement, you need to:
- Purchase and activate Oracle Cloud Application Services.
- Implement Procurement following the guidelines provided in the documentation.
- Configure your enterprise structure, security roles, approval rules and budgetary control settings for procurement.
- Set up your suppliers, sourcing events, contracts, catalogs and purchasing documents.
- Train your users on how to use Oracle Fusion Cloud Procurement for their daily tasks.