Mastering Purchase Order Fundamentals Online, Live

OVERVIEW
Today’s fast-paced demands are requiring the rethinking of the standard paper processes and the use of electronic systems to facilitate decentralized desktop ordering, with just-in-time delivery while weighing the risks to internal controls.

Purchase Order Fundamentals will be an interactive experience covering the basics of a current procurement office and how purchase order systems are used. The topics covered will give you an understanding of purchasing processes and how to avoid common mistakes.

The experienced Professional and Manager will be able to discuss interactively and share their experiences and ask questions to enhance their current operations with fresh ideas.

Increase your knowledge and enhance your skills with an in-depth discussion surrounding the world of purchase orders. Walk away with a better understanding of the PO process, the best practices for working with POs and strategies that will help you avoid the errors that commonly occur in the PO process.

WHY SHOULD YOU ATTEND?
Purchase Orders can be a cause for much confusion and potential errors. This is a great training program for the new procurement professional and the seasoned one may pick up some new ideas as well. It also covers payments and delivery so those in accounts payable and the receiving dock may benefit as well. Learn best practices and how to avoid problems when creating a purchase order.

Join Kenneth Jones as he walks you through the Purchase Order process from A to Z and clears up common misconceptions and helps you avoid common pitfalls.

LEARNING OBJECTIVES
Understand how to initiate the PO process
Learn best practices for receiving orders
Gain knowledge of the proper payment procedures
Lean how to properly track deliveries and proactively avoid issues
Understand the online ordering process as it relates to POs
Gain a better understanding of the processes used with procurement cards
Walk away with the confidence to avoid the most common pitfalls presented by the PO process

AREAS COVERED
The benefit of Using a Purchase Order System

A Purchase Order is a Contract
Creating A Purchase Requisition
Maintaining a vendor Database
Maintaining Internal Account Records
Receiving Merchandise
Payment of Invoices
Tracking the Process Using a computer
Keeping Records for Future Use

Types of information to include on the Purchase Order

Vendor Record Information
Delivery and Contact information
Product or Service description
Basic Contract Information
Freight Terms
Delivery dates
Payment Term
Coding for Accounting
Information for property/asset tracking
References to your terms and conditions
Authorized Signature of Agent

Types of Purchase Orders

Purchase Order for Commodities
Purchase Orders for Services
Blanket or Standing Purchase Orders
Confirming Purchase Orders
Reimbursements
No Order Payments
Procurement Card Orders
Online Electronic Orders

Purchase Order Pitfalls

Ordering Outside the Purchase Order Process
Vendor Quotes
Conflicting Terms
Timeliness of Ordering
Managing Paper
Decentralized VS Centralized Processes
Proofreading the Document
Tracking Order Delivery
Approval Layers
Internal Controls
Cost of Processing

WHO WILL BENEFIT?
Buyers
Purchasing Agents
Accounts Payable Staff
Shipping & Receiving Staff
Equipment Management Staff