How to Purchaseing proses

Question

Anshu Sharma · Accepted Answer

Hello, The purchasing process for a business typically involves the following steps:

Procurement planning: Decide what is needed, who will provide it, and when it will be delivered. 
 
Sourcing: Find a supplier that can meet the company's needs and improve its profit margins. This is often done through a tender or RFP process. 
 
Negotiation: Negotiate with suppliers to improve overall performance and get the best deal. 
 
Purchase requisition: Ensure that the request is accurate and necessary by getting it approved through a number of steps. 
 
Approval: Approve the spend through a flexible and scalable eProcurement solution. 
 
Three-way match: Compare the purchase order, supplier invoice, and receiving documents to ensure that everything is properly documented and paid for. 
 
Payment: Make payment for the goods or services. 
 
Monitoring: Monitor the work to ensure it is being done as expected.

DEENU KUMAR · Answer

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