P2P Life Cycle in Oracle R12
P2P Life Cycle in Oracle R12 In Oracle E-Business Suite (EBS) Release 12 (R12), the Procure-to-Pay (P2P) lifecycle refers to the end-to-end process that organizations use to procure goods and services, from identifying a need to making payments to suppliers. Below is an overview of the P2P lifecycle in Oracle EBS R12, with a brief description of each step : Requisition Creation: The P2P process begins with the creation of a purchase requisition. This is a formal request within the organization to purchase goods or services. Purchase Order (PO) Creation : Based on approved requisitions, purchase orders are generated. These documents specify the terms and conditions of the purchase, including item details, quantities, prices, and supplier information. Supplier Negotiation and Selection: Organizations may negotiate with multiple suppliers to secure the best terms and pricing. Once negotiations are complete, a supplier is selected, and the PO is sent to the chosen supplier. Goods Receipt: ...