Procurement describes the process of obtaining new objects, assets, or devices for your company. Asset Management Suite helps you manage your procurement process. Asset Management Suite provides templates to help you create and manage procurement-related configuration items, such as the stockroom, catalogs, purchase requests, purchase orders, and invoices. Creating and using these configuration items lets you track assets and resources for their entire lifecycle. You can run reports and use filters to determine the status of items in your procurement process.
The Quick Start - Procurement Web part displays the items that must be completed in the order shown, when you first begin working in the Procurement portal. First you must set up the stockroom, supplier companies, and catalogs, and then enter the catalog items. After you prepare the procurement environment, you can create purchase requests and purchase orders.