Purchase Management System

Procedure of Purchase

The purchasing process is usually organized in a cycle, with each stage necessitating data exchange and numerous permissions. Because every company will have its unique touches, but in general, the purchase process follows a well-defined sequence of actions.

Purchase Requisition

A purchase requisition is a document an employee submits to their business’s financial department to request authorization to acquire products or services from outside the company.

Multi-Techno offers you the ERP software for your business.

Request for Quotation

A request for a quote is a procedure in which a business invites outside vendors and suppliers. Moreover, to submit bids on specific products or services.

It is generally an inquiry for the pricing of the products you know you want. Moreover, the Multi techno ERP software gives you that feature for your clients.

Quotation Approval

The original employee sends the purchase requisition to the person in charge of P.O. approvals. By then, it could be the owner’s boss or someone further up the corporate ladder. Moreover, if the request is approved, you move on to the next phase in the procedure at this instant.

Purchase Order

In a buying system of Multi Techno ERP software, a purchase order number is issued to a requisition once approved and transmitted to the vendor. This independent document starts the sales process and is a legally enforceable contract for all parties concerned.

Order Number

The order number issued to the requisition is usually the same as the request number; furthermore, they are stored together.

Receipt Note

The physical transfer of items into the warehouse from external suppliers is receiving goods. Moreover, it always adds to your warehouse’s supply of items. You may organize and execute your product receipts and keep track of the stock of materials that have been ordered and produced.

Inspection Note

An inspection is a process that involves measuring, inspecting, testing, or assessing one or more qualities of a product and further comparing the findings to stated standards to determine if that feature is conformed to.

G.R.N. (Goods Receipt Note)

A Goods Received Note (G.R.N.) is a statement certifying a customer’s receipt of goods. The first thing to remember. It’s also referred to as a delivery note and is used to prove the transport of that product and that the consumers have received it. Furthermore, G.R.N. is used by suppliers and consumers to compare order and delivery quantities.

Avoid Fraud

To avoid fraud or error, firms utilize the ERP implementation by G.R.N. as the supporting document in certain situations. For the most part, accounting departments will need it to track inventory transfers from one location to another. Furthermore, you can buy that ERP system from Multi-Techno.

Bottom Line

Multi-Techno’s best ERP solution gives you a complete solution for your purchase management. Furthermore, contact Multi-Techno to obtain purchase management and accounts payable systems.