Asset Procurement

Description of process

The Asset Procurement process is made up of two sub processes which cover how procurement is started for assets and simultaneously how the material demand (i.e. the additional parts of the design objects connected to the project activity) is managed. The following is a description of each sub process:

Initiate Procurement

This sub process involves creating request for order quotations and purchase requisitions for the design objects in your plant. The RFQ can be sent to prospective suppliers or manufacturers, along with connected data sheets (i.e. Mechanical, Electrical or Instrument). Upon return and approval of the RFQ, data from the data sheets is imported back to IFS/Asset Design and the creation of purchase requisitions can be initiated for a selected supplier or manufacturer.

Handle Material Demand

This sub process is valid only when an active project connection exists. Given an activity project connection, Asset Design material demands are transferred to the engineering register material procurement list (ERMPL) of the respective project activity. This sub process details how to update the planned cost on the ERMPL demand, how to update the planned cost on a design object based on the ERMPL demand, create and handle purchase requisitions, and perform required inventory related activities.