Material Purchase Planning


0

It consists of following steps –

Advertisement

i. Processing the requisition

The departments of co. communicate to the purchase dept. their requirements for various items by requisition form which contains the details of quality and other necessary info. About items and is to be signed by competent authority. It is prepared in duplicate and original copy is sent to the purchase dept.

ii. Location and Choice of suppliers

Potential vendors are contacted by authorized representatives, their sample of items are inspected and examined. On the basis of findings from inspection, suppliers are approved for placing orders.

     iii. Criterion for Choice of Vendor-

  • Reliability of vendor
  • Assurance of timely delivery
  • After sale service
  1. Placing the orders – Purchase dept. try to purchase required items at most advantageous terms, all purchase must be made by purchase order in a specified form duly signed by authorized person. It must contain detail about supplier, description of items, their prices and amounts.
  2. Follow up – Late deliveries can close the company so it is necessary to review the outstanding orders at regular intervals.
  3. Invoices received from suppliers are checked with order specifications.
Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to contact@bms.co.in.

Like it? Share with your friends!

0
BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to contact@bms.co.in.

0 Comments

Ask Us On WhatsApp
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format