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4 Keys Differences Between Procurement and Purchasing #supplychain #logistics #procurment #purchasing

*Key Documents in Supply Chain Management* 1. Purchase Order (PO): Buyer's order to the supplier. 2. Invoice: Supplier's bill to the buyer. 3. Bill of Lading (BOL): Shipping document. 4. Packing List: Details of packaged goods. 5. Certificate of Origin: Proof of goods' origin. 6. Commercial Invoice: Seller's invoice to the buyer. 7. Shipping Order: Instructions for shipping. 8. Delivery Note: Confirmation of delivery. 9. Warehouse Receipt: Proof of goods' storage. 10. Freight Forwarding Agreement: Contract between forwarder and shipper.

#Key Documents in Supply Chain Management*# 1. Purchase Order (PO): Buyer's order to the supplier. 2. Invoice: Supplier's bill to the buyer. 3. Bill of Lading (BOL): Shipping document. 4. Packing List: Details of packaged goods. 5. Certificate of Origin: Proof of goods' origin. 6. Commercial Invoice: Seller's invoice to the buyer. 7. Shipping Order: Instructions for shipping. 8. Delivery Note: Confirmation of delivery. 9. Warehouse Receipt: Proof of goods' storage. 10. Freight Forwarding Agreement: Contract between forwarder and shipper.

In our industry, Purchasing/Procurement managers balance many competing demands. Aharon Golshirazian juggles 50+ suppliers while building strong relationships. Appreciate your purchasing manager—they are the vital link between suppliers and operations. #Procurement #SupplyChainManagement #SupplierRelationships #EmployeeAppreciation

During procurement have a back up plan matters logistics, yes the supplier is the one to do the delivery if that is the initial agreement but what happens where he's having challenges? you need the purchased goods ASAP ! the back up might be in terms of a logistics company or you might be in a position to send one of your trucks to go and pick the materials, goods, commodities or parts, the supplier failing to honor his side of delivery should not make you fail to deliver to your customers too.

There is a comprehensive and integrated total inventory including Sale Orders classification as per customer's products pricing deliver and processes criticality to Production and Procurrements, control,planning & management module has been designed and developed by our team to mitigate the day to day operational and financial risks of hedging sales quantity vs stock quantity means beyond desirable risks limit of the institutions specially for highly volatile and high value materials on spot and hedged basis , starting from offering/accepting Sales Order (SO) of Finished Good (FG) from valued customers matching with their timely production centre availability, RM and required resources Procurrements to make timely delivery after finishing considering their lead time for domestic and exports/ imports with day to day basis point to point effective control and authority -responsibility matrix for maintaining ideal optimal inventories level of FG,SFG and RM etc as well as coordinating SCM for timely delivery -procurement and production finishing- logistic arrangement etc. There will be a considerable saving ( direct/indirect) besides financial abd operational risks controlling after implementing our designed SCM module for day to day sales to procurement and inventory management.

SLN Warehousing Services About GST and Inventory Control tips

The Procurement vs Purchasing Differences. In Purchasing, people spend long hours nailing down the costs and often do not even have to talk to the end users. Sourcing and negotiating are not the end goals, we have to deliver meaningful outcomes / goods to the user. Purchasing serves under the Procurement umbrella & it's not separate. In Procurement, we need cross-functional collaborations. Establishing the product or services required, set the specifications, forecast. Then identify & selecting appropriate suppliers. Negotiating and Contracting comes next followed by a formal Purcahse Order. Later on follow up / expediting for deliveries alongside receipt and Inspection of the Purchase made when goods are delivered in house. In between Purchase or Procurement specialists have to look for Logistics too inorder to keep a track of the Goods under movement. I have missed a few things which are mentioned in the image below. Thanks to Mr. Tom Mills for this.

Key differences between Procurement and Traditional Purchasing. Procurement will help you to include identifying needs, sourcing, negotiating, purchasing, receiving and inspecting goods, invoicing, payment, and managing suppliers, saving cost, reducing time, and building win-win supplier long-term relationships.

WHAT IS THE FREIGHT TRANSPORT SERVICE PROCUREMENT PROCESS? The freight transport service procurement process involves all activities required for acquiring freight services from an external source, such as planning, purchasing, logistics, receipt and payment,?monitoring and reporting, as well as inventory management. The correct management of the procurement process is crucial because it helps the organization to save money, run effective delivery times and get qualified?freight suppliers. SIX KEY ACTIVITIES INVOLVED IN THE FREIGHT TRANSPORT SERVICE PROCUREMENT PROCESS 1- PREPARATION/PLANNING Identifying requirements Shipping lanes Type of service (FTL, LTL) Type of equipment (DryVans, Flatbeds, Specialized equipment, etc), Volume of loads, Special requirements (handling, liftgate service, etc) Establishing schedule: Pick-up dates, Delivery dates Budget definition Preparing and issuing solicitations Competitive bid Request for Proposals Direct purchase 2- PURCHASING Evaluating offers Supplier selection Negotiation Agreement on qualitative and quantitative performance indicators. Awarding contracts 3- LOGISTICS Monitoring?transportation companies performance 4- RECEIPT AND PAYMENT Arranging payments 5- REPORTING Provide feedback on carriers performance Preparing procurement reports Compliance rate Procurement cost reduction Supplier availability Number of suppliers 6- INVENTORY MANAGEMENT Warehousing and inventory control