It comprises of a series of actions that streamline the process of procure-to-pay, derives policy compliance and controls expenditures. These actions are adjustable for each department based on their approval structure.
Actions are as follow:
Purchase Requisitions: it allows the concerned staff in any department to issue a purchase request that includes goods needs to be delivered by suppliers. Then approval series is taking place before monitoring and auditing it by financial department, the purpose of this is to insure that request match pre-approved budget.
Purchase orders: Purchase order is a financial commitment to the suppliers for purchasing their goods. It ensures that the cost of purchasing is hold and deducted from the budget for that order.
Receiving Goods: Goods mentioned in purchase orders received from the suppliers. Then they are ensured to be in conformity with the mentioned specifications in the purchase order.
Move orders: The operation includes a series of procedures and approvals from the requesting department, an accountant and a storekeeper in order to dispense items out from warehouses to the requesters.