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A purchase order is a legally binding document between a supplier and a buyer. It details the items the buyer agrees to purchase at a certain price point. It also outlines the delivery date and terms of payment for the buyer. Purchase order computer systems have made the purchasing process more efficient and allow for better inventory and payment tracking.

Send a request for quotation to the suppliers in order to see which supplier has the best price or the good that best suites your company’s needs.

Generate the RFQ and send it to all your selected Suppliers.

The suppliers are going to receive the RFQ and make an offer.

Once the supplier has been chosen, the purchase manager (or N+1) has to approve the purchase. No goods or services should be ordered or delivered until the contract is signed. Therefore make sure to have a signed agreement with your supplier. The purchase department is now autorized to buy products from this specific supplier.

PURCHASE PROCESS

Analyse the Quotation received and select the supplier that best suits your expectations.

Once the supplier has been chosen, the purchase manager (or N+1) has to approve the purchase. No goods or services should be ordered or delivered until the contract is signed. Therefore make sure to have a signed agreement with your supplier. The purchase department is now autorized to buy products from this specific supplier.

A standard process allows automation and the use of technology which will reduce the cost of the process. (cf. automated PO). The system is going to check stock levels and directly create PO requests to the specific supplier associed to the product.

The system is going to check stock levels based on min & max stocks and directly create PO requests to the specific supplier associed to the product.

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