Evaluated Receipt Settlement (ERS)

Posted in Operations and Supply Chain Terms, Total Reads: 547
Advertisements

Definition: Evaluated Receipt Settlement (ERS)

Evaluated receipt settlement is a process when an Enterprise Resource Planning system uses the Purchase order (PO) information and Goods Receipt Note to automatically pay the supplier on delivery of goods


Benefits of ERS System

• On time payment on regular basis to supplier resulting in better cash flow

• No need to print and send invoices to customer and also there will elimination of cost associated with clerical job and postal charges

• Ensures payments are done at contracted rate mentioned in the Purchase order

 


Flowchart of ERS working

 

Browse the definition and meaning of more terms similar to Evaluated Receipt Settlement (ERS). The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary



Share this Page on: