Purchasing Process

Purchasing Process includes as usual 8 main stages as follows:

1. Requisitioning
2. Approving
3. Studying Market
4. Making Purchase Decision
5. Placing Orders
6. Receipting Goods and Services Received
7. Accounting Goods and Services
8. Receiving Invoices and Making Payment

Purchasing Management Process

Purchasing Management Process consists usually of 3 stages:

1. Purchasing Planning
2. Purchasing Tracking
3. Purchasing Reporting

Purchasing Planning

Purchasing Planning may include steps as follows:

• creating purchasing projects and tasks
• providing related information (files, links, notes etc.)
• assigning purchasing tasks to employees
• setting task priorities, start/finish dates etc.
• assigning supervisors
• setting reminders

Purchasing Tracking

Purchasing Tracking consists of:

• checking task's status and/or history of changes
• receiving status notifications
• sorting, grouping or filtering tasks by current status
• highlighting overdue tasks

Purchasing Reporting

Purchasing Reporting includes:

• comparing actual and estimated values
• calculating purchasing task and project statistics
• sorting, grouping or filtering tasks by attributes
• creating charts to visualize key statistics and KPIs

References

1. ^ UTIPS education. University of Twente (02/13/2006). Retrieved on October 2007. “Production companies purchase nowadays approximately 70% of their turnover, service companies purchase approximately 40% of their turnover!”
2. (Anon,2008) http://en.wikipedia.org/wiki/Purchasing_management