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In multi company configuration when I am validating purchase order for company B I am getting an error 

"No procurement rule found in location".(Odoo 12 Community edition)

can anyone please give me solution for this?

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If you already enabled the "Multi-companies" option in general settings, you need to check if the "routes" and "rules" are set up correctly for company B.

BR

Ricardo

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First you can check the stock location,

May be there is no stock for the selected product in that Location

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