LLM : Automating Supply Chain tasks, 3-way match, duplicate invoices design discussion
*This video is intended for only supply chain analysts.*
Llama 2 | ChatGPT as Supply Chain Assistant -
https://github.com/AmitXShukla/RPA/bl...
Streamlining 3-Way Receipt Match and Duplicate Voucher Invoices with Llama 2
Enhancing Fraud Detection: Utilizing Llama 2 as an Advanced Alert System for Monitoring Transactions
Maximizing Tax Savings, Ensuring Compliance, and Streamlining Audits with Llama 2
`**WIP**`: Tax Analytics | Spend Classification | Contracts management
The supply chain process, often referred to as the B2P (Buy-to-Pay) or P2P (Procure-to-Pay) process, involves several steps to ensure the efficient procurement and delivery of goods. Let's break down the process step by step:
Inventory Check:
The supply chain process begins with an inventory check. This step involves assessing the current stock levels of goods in the system. It helps to determine which items are running low and need replenishment. This check can be done through various means, such as using software that tracks inventory levels in real-time.
Replenishment Order:
After the inventory check, if the system identifies that certain goods are running low or below the specified threshold, it automatically generates a replenishment order. This order initiates the procurement process and serves as a request for more goods to be obtained from external suppliers.
Purchase Order Creation:
Once the replenishment order is generated, the procurement team or relevant personnel create purchase orders. These purchase orders contain specific details about the requested goods, such as the quantity, item description, agreed-upon price, delivery date, and any other relevant terms and conditions.
Sending Purchase Orders to Vendors:
After the purchase orders are created, they are sent to the approved vendors or suppliers who provide the required goods. The vendors review the purchase orders and acknowledge their acceptance, confirming their commitment to fulfill the order.
Goods Shipment:
Upon receiving the accepted purchase orders, the vendors prepare the goods for shipment. They ensure that the correct quantity and quality of goods are packed and ready for delivery. The vendors then send the goods to the customer's designated delivery location.
Receipt Generation:
Once the goods are successfully delivered to the customer, the receiving team checks and verifies the received items against the details mentioned in the purchase order. If everything matches and there are no discrepancies, they generate a receipt confirming the receipt and acceptance of the goods.
Invoicing and Payment:
After the receipt is generated, the vendor sends an invoice to the customer for payment. The invoice contains details of the goods provided, their quantity, prices, any applicable taxes, and the total amount due. The customer reviews the invoice and makes the necessary payment to the vendor within the agreed-upon payment terms.
Payment Settlement:
Finally, the customer processes the payment, settling the outstanding invoice amount with the vendor. This completes the procurement process for the specific order.
The supply chain process is a continuous cycle, and the steps repeat as new demands arise, and inventory needs to be replenished. Efficiently managing the supply chain ensures that goods are available when needed, minimizing delays and disruptions in the supply of products or services.