Certification·Purchase & Procurement·Intermediate
Purchasing: Procure to Pay
Understand purchase requirements, supplier comparison, approvals, purchase orders, receipts, invoices and settlement of supplier balances.
What you will learn
- Evaluate supplier offers using specifications, total cost, timing and terms.
- Distinguish purchase approval, receipt, invoicing and payment.
- Explain supplier advances, credit notes and payment allocations when reconciling balances.
Lessons · 16 lessons
1Procure to pay: turning a business need into a controlled purchase4 min2Supplier records and commercial terms: knowing who supplies and who is paid4 min3Purchase requisitions: explaining the need before committing money4 min4Procurement approvals and budgets: evaluating authority, need, and funding4 min5Requests for quotation: obtaining offers that can be compared fairly4 min6Total purchasing cost: looking beyond the lowest unit price4 min7Supplier awards: choosing one supplier or dividing the requirement4 min8Purchase orders: recording the authorised supplier commitment4 min9Goods receipts: distinguishing what was ordered from what arrived4 min10Supplier invoices: understanding the bill and its supporting evidence4 min11Services and account-based purchases: when the purchase is not warehouse stock4 min12Freight and additional charges: assigning costs to the supply they support4 min13Supplier credits and returns: reducing an obligation for the right reason4 min14Supplier advances: funding a purchase before delivery4 min15Supplier payments: planning the outflow and settling the correct obligation4 min16Supplier reconciliation and closing the procurement cycle4 min
Skills
Procure-to-pay processesRequisitions and approvalsRFQ and supplier comparisonReceipts and supplier invoicesSupplier settlement
