Best Practices Businesses Should Follow for Efficient Purchase Ordering
While every business has its own unique approach to common tasks and its own way of formalising and improving its processes, many businesses can benefit from implementing proven strategies and best practices. That’s why we’ve brought to you eight proven best practices when it comes to efficient purchase ordering to ensure the accuracy and contr ... Read More
October 1, 2019 purchase management, purchase orderDo You Know the Difference Between Purchase Orders and Purchase Requisitions?
For new business owners, getting your head around the array of business terms and jargon can be difficult. Two often confused terms you may have come across are purchase order and purchase requisition. While these terms are often used interchangeably, this is mistaken as there are distinct purposes for each. In this article, we outline […] ... Read More
September 25, 2019 purchase management, purchase orderPurchase 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 procurement, purchase management, purchase order, purchase ordersMastering the Art of Backorders
With eCommerce sites, you can be selling product 24 hours a day, 7 days a week. It’s a powerful retail option for businesses. Your online eCommerce presence can lead to a significant increase in sales. However, what happens if that increase in orders becomes hard to stay on top of? You want to fulfil orders, […] ... Read More
August 26, 2019 back order, eCommerce, inventory management software, purchase managementA Closer Look at Purchase Management
As an inventory manager or business owner, you’ll know that getting what you need to run your business is a fundamental process. When you make a purchasing decision, it has a direct influence on how you control and manage your inventory stock. Depending on what you order, it will impact your inventory levels and how […] ... Read More
August 24, 2019 purchase management, purchase order, purchasing, purchasing stockControlling Inventory. How Hard Is It Really?
Inventory often accounts for a large portion of your business’s current assets. Knowing how much to have on hand is a complex task. The very best of forecasts are seldom accurate, and occasionally unforeseen problems do occur. Inventory management impacts different functional teams within the organization. Each team will have competing pri ... Read More
August 31, 2015 intelligent demand forecasts, optimise inventory, purchase management, safety stock, warehouse management