Purchasing Info Record is a database entry that stores essential information about a specific material and the vendor supplying that material. This information includes pricing details, lead times, and other critical data necessary for efficient procurement. The primary objective of these records is to maintain consistency and transparency in the procurement process.
Purchasing Info Records can be maintained at two levels within an organization: the plant level and the purchasing organization level
Types of Purchasing Info Records
1. Standard Info Record
A Standard Info Record is the most common type and contains information relevant to standard purchase orders. It serves as the foundation for many routine procurement transactions. Standard Info Records can be created for both materials and services, with or without master records for the material in question. This versatility makes them highly adaptable for various procurement scenarios.
2. Subcontracting Info Record
A Subcontracting Info Record is designed to manage ordering information for subcontract orders. For instance, if a company outsources the assembly of a component to a subcontractor, this record would include the subcontractor's pricing details for the assembly work. Subcontracting Info Records play a crucial role in maintaining cost control and transparency when working with subcontractors.
3. Pipeline Info Record
The Pipeline Info Record is specialized for commodities supplied through pipelines, pipes (e.g., oil or water), or similar means (e.g., electricity through mains). It contains pricing information specific to the consumption of these commodities by the buyer, often referred to as "pipeline withdrawals." Importantly, Pipeline Info Records can store withdrawal/usage prices for different validity periods, accommodating fluctuating market conditions.
4. Consignment Info Record
A Consignment Info Record deals with materials that vendors maintain on the orderer's premises at their own cost. This arrangement allows the orderer to access the material as needed without incurring upfront costs. The Consignment Info Record includes the vendor's pricing for withdrawals from consignment stock. Similar to Pipeline Info Records, Consignment Info Records can also store prices for different validity periods, reflecting changes in pricing agreements over time.