Create Release Slip – A Summary of the Activity

This activity allows you to create a slip for a particular Blanket PO. The Use can select a particular Blanket PO and can  create a release slip with the reference of Blanket PO.  Release Slip is an Ordering Component like Purchase Order. This is used where you have requirements of the material known well in advance for the Purchasing Organization for the Release Slip Location and the requirements are collated and ordered through Blanket Purchase Order as a long term contract mentioning the Ordering location. This Release Slip inherits the form of Blanket Purchase Order and the same is of three types as Rate, Quantity, Value Contract, which Release Slip referring to. Depending Upon the Status of Release Slip, Blanket Purchase Order status is updated.

Release Slip is a goods shipment notice to the supplier on which a blanket purchase order has already been placed. The whole process starts with need for an item. The person requiring that item raises a Purchase request and if a BPO exists for that item the person can initiate a release slip for the same item. Information regarding terms and conditions, delivery schedule, Item level and document level TCD, Drop Ship details and Inspection details is passed on to supplier along with Release Slip document. The same information is passed on to Goods Receipts and invoicing as well. While creating a Release slip all the  information’s mentionded above can also be defaulted from the BPO for that item.

The Release Slip takes the authorization route as any other transaction, once it is authorized the reference BPO is suitably updated. This updating is applicable only on value, Quantity, type of contracts.  The system ensures that at no of point of time, the aggregate of the RS values/ quantities can exceed the allocated value/ quantity referred in the BPO. RS provides details to Invoicing and GR components.

The Release Slip Created will be in various status depending upon on the fulfillment of mandatory information’s.The following are the status of Release slip while creating

1)       Draft Status – If mandatory informations are not provided

2)       Fresh Status – If mandatory informations are provided

3)       Open Status – If the document is authorized while creation using Create and Approve Push Button.

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