Purchasing Process Training

In this session, we will look at an overview of the procurement process. At the end, you will be able list the steps in the procurement process and purchase an item using a streamlined procurement process.

Summary: 

The four basic steps of the procurement process are: the purchase order, the goods receipt PO, the A/P invoice and the outgoing payment.

Two key types of master data in purchasing are vendor master data and item master data.

In a streamlined purchasing process, the only mandatory document is the A/P invoice.

The A/P invoice is designed to increase inventory when the invoice does not reference a goods receipt PO as a base document.

You can also download the document here for your records.