4 Types of Purchase Orders Every Business Needs to Know
Managing procurement is crucial for any successful business. If your business does not have consistent processes for managing procurement, you risk failing to account for your purchases and risk making costly purchasing mistakes. Purchase orders are perhaps the most important part of an effective procurement management process. Let's take a look at ... Read More
December 16, 2019 purchase management, purchase orderYour Guide to Purchase Order Tracking
Purchase order tracking is an effective way to track and manage transactions across a company and ensure you have oversight of all expenditure. While businesses have tracked purchased orders manually for a long time, there are some key drawbacks to this method. Instead, we suggest automating the process with inventory management software. In this a ... Read More
November 5, 2019 purchase management, purchase orderOnline Inventory Control and the Importance of Purchase Order Tracking
A purchase order (PO) represents a legal contract between a business and its suppliers for the purchase of goods and services. POs help to ensure that the right quantity of goods or services is delivered in a specified time frame and at the level of quality expected. They also provide a framework for accurate inventory […] ... Read More
October 29, 2019 inventory control, inventory management, inventory management software, purchase orderYour First Step to Mastering Purchase Order Tracking
Purchase orders can be powerful if used correctly. With a single purchasing order (PO) number, you can link every stage of every single transaction across your business’s spend. However, in order to unlock POs potential by gaining total control and transparency, it’s best to have a reliable way to monitor and document them as they […] ... Read More
October 24, 2019 purchase management, purchase orderHave You Been Mixing Up Purchase Requisitions and Purchase Orders?
Procurement processes can seem complicated, but each stage of the process can be broken down into tangible, easy-to-understand steps. Understanding the difference between purchase requisitions and purchase orders will help businesses and their employees to have a greater understanding of the entire procurement process. Helping to ensure more simpli ... Read More
October 23, 2019 purchase order, purchasingBest 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 orderAn 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 inventory control, inventory management, procurement, purchase orderStreamline 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 procurement, purchase order, purchase ordersPurchase 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 ordersPurchase Orders and Purchase Requisitions: What’s the Difference?
Supply chains are a fundamental tool for any inventory business. However, supply chains are a very involved and sometimes complex process. It’s vital to understand how the procurement process works and making sure you understand what different parts of the process mean. Two key parts of the procurement process are the purchase order and purchase ... Read More
September 10, 2019 inventory control, inventory management, purchase order, supply chainShould Your Business be Using Purchase Order Tracking?
When you’re managing a warehouse and trying to run a business, purchase orders can play a vital role in enhancing transparency throughout your entire organisation. They can help you track what’s going on through the simplicity of a single number. Whether you run a small business or you play a role in a large procurement […] ... Read More
September 7, 2019 inventory control, purchase orderHow To Decrease Your Purchase Order Cycle Time
If you’re looking to make your business more efficient, you might need to revamp some processes. Of course, there are big processes in a business that take lots of time and effort to overhaul. Rather, how about spending some time focusing on some of the little processes such as reducing your purchase order cycle time. […] ... Read More
September 6, 2019 inventory management system, purchase order, supplier management4 Best Practices to Keep You on Top of Your Purchase Orders
If you want to get ahead with your purchase orders, it’s time to look at the best practices to guide you. When you use best practices, you ensure that you have accuracy and control over your purchase orders and can operate at a more efficient rate. Basically, a purchase order is a document between the […] ... Read More
August 28, 2019 inventory management software, purchase order, purchasingA 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 stockNo more roadblocks to sell your receipted goods!
No more waiting for that final transport invoice to come through before you receipt a purchase order and book in your goods with purchase order recosting. ... Read More
May 2, 2017 freight, product release, purchase order, recosting, supply chain management