Use this screen to establish procurement types and their descriptions. You will use the procurement types in the Enter POs screen in Costpoint Purchasing and in Costpoint Procurement Planning functions. Examples of procurement types include "Competitive Bid" and "Sole Source."
Procurement types serve two purposes. You can use them to categorize requisition lines and to instruct buyers on how many quotes should be obtained before the requisition line is generated into a purchase order.
Use this screen when you initialize Costpoint Purchasing and Costpoint Procurement Planning, or when you maintain procurement types.
Enter a procurement type code containing up to two alphanumeric characters. This field is required.
Enter a description of the procurement type containing up to 30 alphanumeric characters. This field is required.
Enter the minimum number, up to 99, of vendor quotes the buyer should reference in the Requisition Processing and the Requisition Processing by Line screens if he is processing a requisition line with this procurement type code. If the vendor does not reference the stated number of quotes, the system will display a warning message.