Evaluated Receipt Settlement (ERS)

Posted in Operations and Supply Chain Terms, Total Reads: 320
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

 

Search & Explore : Management Dictionary

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.



Share this Page on: