A business requires various types of goods and services as its input. For a manufacturing unit, a lot of raw
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To facilitate proper coordination of purchase process, purchase department needs a Purchase Requisition for every purchase they are told to
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• For every occasional purchases of a significant value, a quotation is received from the supplier. • Generally, to have
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• Many a times, particularly in Export-Import business, before sending the goods, the seller sends an abridged or estimated version
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• To streamline the purchase process, a standardized Purchase Order (PO) should be issued by the buying company. • A
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• At the time of receiving the goods ordered through a Purchase Order, the buyer issues a confirmation through Goods
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• The company should process payments against purchases in a timely and systematic manner. • The internal processes of the
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To ensure regular supply of quality materials at the most competitive rates is the basic purpose of the purchase department.
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