Use this screen to establish and classify purchases from vendors. Procurement types can be set up to denote a sole source vendor, a competitive bid, or any other applicable designation that could be applied to the vendor and purchase order as a whole. The Procurement Type is entered in the header of the purchase order.
Set up this function when Costpoint Purchasing is initialized, and maintain it whenever changes are needed for a given type. Procurement types are also used in Costpoint Procurement Planning and can be established in the screens in the Requisition Controls menu. The procurement types must be established before they can be used on a purchase order.
Enter a procurement type code containing up to two alphanumeric characters. This is a required field.
Enter a description of the procurement type entered containing up to 30 alphanumeric characters. This is a required field.
Enter an optional number of quotes required for the selected procurement type.