The Role of Purchase Module in Cost Control
The Buying Control
Uncontrolled spending erodes profit margins. Establish buying controls at procurement to ensure all purchases are approved and cost-effective.
Enforce Buying Controls
- Requisition Requests: Require department heads to submit purchase requisitions for approval.
- Supplier Price Comparisons: Compare historic pricing from multiple suppliers.
- Automated PO Dispatch: Generate and email purchase orders to suppliers directly.
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Discussion (2)
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Tariqul Islam
Auto-reorder alerts prevent panic purchasing at higher prices. Very well-written article.
Javed Iqbal
Comparing supplier quotations before issuing purchase orders keeps procurement transparent and within budget.