Ever wonder what information is required by procurement to place a purchase order? Much of the data needed will come from the supplier - but certain information is needed from the requestor. Check out the purchase requisition template for parts.
- Segregation of Duties
Segregating duties for requesting supplies and placing purchase orders provides sound financial controls. Some of the worst kick back schemes caused by unethical employees and suppliers can be avoided just by segregation of duties.
- Funds Authorization / Budget Control
Requiring a requestor to document the purchase simply avoids spending money without management approval. This helps create a no surprise environment when budgets are evaluated against goals or spending limits.
- Transaction Efficiency
With this one document users can efficiently provide procurement with what's needed to place a purchase order. Procurement can avoid countless email gathering the information needed for a purchase order.
- Requestor Engagement
If you are strained for resources - get department users involved in the procurement process. If they can provide accurate information the time and cost to complete a purchase order will be greatly reduced. This will allow procurement to spend more time on value added activities.
- Performance Tracking
Track the time to place a purchase order by requestor and buyer. Use this information as a tool to track department customer service data. For example, percent purchase orders placed in 3 days.
Here is the link to download the purchase requisition template for parts.