I have a situation in our business where we buy material from emerging market suppliers at origin inco terms. This means, when goods are ready at supplier dock, the invoice is generated and submitted. The payment terms are typically 60 days but transit time is now taking maybe 70 or more days. This creates a scenario where goods are still in transit via ocean freight but time is up and invoice is due for payment.
This issue/question is not about advance posting of invoice prior to GR but rather making payment before GR. Our standard process is that R block will occur until GR is done.
Is there an alternative process we can set up at vendor or material level that would systemically allow an invoice to be paid prior to goods receipt in these specific scenarios?
Thanks in advance!