1 / 11

What is Purchase Order? Definition, Meaning, Creation and Presentation

A Purchase Order (PO) is a buyer generated document that authorizes the purchase transaction. When the purchase is accepted by the seller, it becomes a contract binding both parties. <br>

SalesBabuCRM
Download Presentation

What is Purchase Order? Definition, Meaning, Creation and Presentation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is Purchase Order? Definition, Meaning, Creation and Presentation SalesBabu CRM for Enterprise business and startups

  2. Contact Us: M: +91 9611 171 345 Definition and meaning of Purchase Order A Purchase Order (PO) is a buyer generated document that authorizes the purchase A Purchase Order (PO) is a buyer generated document that authorizes the purchase transaction. When the purchase is accepted by the seller, it becomes a contract binding transaction. When the purchase is accepted by the seller, it becomes a contract binding both parties. both parties. Website: www.salesbabu.com Email: sales@salesbabu.com

  3. Contact Us: M: +91 9611 171 345 Types of Purchase Order 1. 1. Standard Purchase Order Standard Purchase Order 2. 2. Planned Purchase Order Planned Purchase Order 3. 3. Contract Purchase Order Contract Purchase Order 4. 4. Blanket Purchase Order Blanket Purchase Order Website: www.salesbabu.com Email: sales@salesbabu.com

  4. Contact Us: M: +91 9611 171 345 What does a Purchase Order contain? A Purchase Order Purchase Order contains - Description Quantities purchased Price Discounts Payment terms Billing address Specific brand name or model number Date of performance Delivery date ● ● ● ● ● ● ● ● ● Website: www.salesbabu.com Email: sales@salesbabu.com

  5. Contact Us: M: +91 9611 171 345 Pros of Purchase Order Avoids duplicate order Avoids duplicate order ● Serves as legal documents Serves as legal documents ● Keep track of the upcoming orders Keep track of the upcoming orders ● Better budgeting Better budgeting ● Faster delivery Faster delivery ● Website: www.salesbabu.com Email: sales@salesbabu.com

  6. Contact Us: M: +91 9611 171 345 How does a Purchase Order work? The purchase order process is a journey of the PO from creation through the purchase order approval, dispatch, delivery, invoicing and closure. The Purchase Order is an important factor of the inventory management. Once the vendor accepts the Purchase Order, the vendor outlines the required items, agreed price and delivery expectations and payment terms. Upon receiving the PO, the supplier draws out the required items from stock and sends them for package and shipping. The PO is then used by the suppliers to track inventory available against the inventory ordered and shipped to the buyers. ➔ ➔ ➔ Website: www.salesbabu.com Email: sales@salesbabu.com

  7. Contact Us: M: +91 9611 171 345 Steps involved in Purchase Order process PO creation ➔ Purchase Order Approval ➔ PO dispatch ➔ Binding contract ➔ Goods Delivery ➔ Three-way Matching ➔ PO closure ➔ Website: www.salesbabu.com Email: sales@salesbabu.com

  8. Contact Us: M: +91 9611 171 345 How to automate Purchase Order process? The purchasing order module of ERP software is used to manage PO process efficiently. So, let us know more about the benefits and use of ERP software for your business. What is an ERP Software? What is an ERP Software? An Enterprise Resource Planning (ERP) system is a software which is used to manage tasks such as accounting, procurement, project management, supply chain operation, risk management and compliance. It helps to plan, budget, report on the organisation’s financial results. Website: www.salesbabu.com Email: sales@salesbabu.com

  9. Contact Us: M: +91 9611 171 345 Benefits of ERP Software 1. Provides access to essential business information through cloud. 5. Sets auto-notification and reminders. 6. Provides automated reports. 2. Reduces risk of errors and re-entry of data. 7. Improves accuracy due to automation. 3. Tracks inventory. 8. Single platform. 4. Manages invoice and DC. Website: www.salesbabu.com Email: sales@salesbabu.com

  10. Contact Us: M: +91 9611 171 345 Use SalesBabu ERP system for your business 1. 2. 3. 4. 5. 6. 7. 8. 9. Financial management Production management Inventory and warehouse management Supply chain and operations management Manage sales business Purchase management Project management Capital management Business intelligence Customer Relationship Management 10. Website: www.salesbabu.com Email: sales@salesbabu.com

  11. Contact Us: M: +91 9611 171 345 Thank you for Visiting Us Read More 3 Highly Influential Business Software Tools For Small Business Manufacturing CRM- Bridge Between Demand & Supply After Sales Service Solutions In Weighing Industry Our Address SalesBabu Business Solutions Pvt. Ltd. No.38/11, 3rd Cross, G Block, Sahakarnagar, Bangalore – 560092 Tel: +91 9611 171 345 , Mobile: +91 9341 323 571 E-mail: sales@salesbabu.com Website: www.salesbabu.com Copyright Reserved @ 2019 SalesBabu Business Solutions Pvt Ltd.

More Related