{"id":2413,"date":"2025-04-30T17:49:57","date_gmt":"2025-04-30T17:49:57","guid":{"rendered":"https:\/\/www.demo-xpressranking.com\/soltecinc\/?page_id=2413"},"modified":"2025-05-01T04:31:00","modified_gmt":"2025-05-01T04:31:00","slug":"evaluated-receipts-settlement","status":"publish","type":"page","link":"https:\/\/kpltechsolution.us\/soltecinc\/evaluated-receipts-settlement\/","title":{"rendered":"Evaluated Receipts Settlement"},"content":{"rendered":"\t\t
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Evaluated Receipts Settlement<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\nEvaluated Receipts Settlement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Executive Overview<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Evaluated Receipts Settlement (ERS) was one of the many innovative business practices initiated by the Japanese in the 1970\u2019s to gain a competitive advantage. After introducing this process to Ford Motor Company in 1986 and helping over 200 companies implement this Best Practice, the founders of Soltec have become recognized as the authority on ERS education and implementation. Soltec has experience in implementing ERS across many industries including Automotive, Chemical, Semiconductors, HVAC, Grocery Products, Retail, and others.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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ERS is not a software solution and typically requires minimal software configurations to current business systems. In addition, ERS does not require Electronic Data Interchange (EDI) capability for implementation. Instead, ERS is a process which drives fundamental change to the procurement cycle with a major emphasis on data quality improvements to purchasing, and receiving, as well as improving supplier relations.<\/p>\n

Simply put, ERS eliminates the supplier\u2019s need to prepare and furnish an invoice which the customer must then process. The underlying principle of this radical transformation is the use of the supplier shipping document (packing slip) or an electronic Advanced Shipping Notice (ASN) to establish the quantity of goods and the time of their receipt. This quantity is then multiplied by the previously agreed upon purchase contract price with the payment terms in effect at the time of shipment, giving the amount due and the necessary date of payment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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IMPACTS<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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