C02 - SBP - Purchase Order

The Purchase Order process involves issuing official documents to vendors, detailing specific goods or services to be purchased, quantities, prices, delivery dates, and terms of sale. This process formalizes purchasing agreements and serves as a legal contract between the organization and its suppliers. Key activities in this process include:

1. Purchase Requisition: Generating purchase orders based on approved purchase requests or direct procurement needs.
2. Vendor Communication: Sending purchase orders to selected vendors, confirming order details, and obtaining order acknowledgments.
3. Order Tracking: Monitoring the status of purchase orders, tracking delivery timelines, and managing order changes or cancellations.
4. Receipt Confirmation: Confirming receipt of goods or services against purchase orders and resolving discrepancies.
5. Invoicing and Payment: Processing vendor invoices based on received goods or services and ensuring timely payment according to agreed-upon terms.
6. Contract Compliance: Ensuring that purchase orders comply with contractual agreements, pricing terms, and quality standards.