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Topic: procurement

An Overview of Best Practices for Efficient Purchase Ordering

A purchase order (PO) is a document issued from a buyer to a seller that communicates a request for procurement of goods or services. PO’s also form part of an organisations inventory control practices; they help to increase purchase efficiency and serve as a legally binding contract, enforcing the deal between purchaser and supplier. Getting [&h ... Read More

  September 18, 2019     

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time

Purchase orders are the documents sent from the buyer to the supplier requesting goods or services that when accepted by the vendor forms a legal contract between the two parties. It also serves as a form of security for the supplier. Typically, purchase orders will provide detail of the items the buyer agrees to purchase […] ... Read More

  September 17, 2019     

Purchase Requisitions vs. Purchase Orders

Purchase requisitions and purchase orders (often referred to as POs) are both part of a business’s overall procurement and purchasing processes, which establish buying policies and outline purchasing steps. Supply chain operations are dynamic and complex, so it’s important to have a good grip on every stage of the procurement process. While pro ... Read More

  September 16, 2019     

Implementing win-win supplier relationship management techniques

It is time to start embracing supplier relationship management (SRM). There are a number of general principles that are useful to understanding, promoting and implementing good SRM in business. With some listed below, these tools represent a checklist on what may be possible between the specific business, supply chain and key relationships players ... Read More

  July 28, 2017