Procurement Masterclass: A Complete Guide To Purchase To Pay.
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INTRODUCTION
A purchase order is a business document that states the intention of a buyer to purchase goods from a seller. This extra step in the buying process protects the buyer from receiving the wrong order and protects the seller from potential non-payment.
Learn how companies manage the crucial purchase-to-pay process in their operations and why it is so important for global supply chains. Take your procurement knowledge to the next level by understanding all the key concepts of operational procurement and how they can be improved to manage spending and compliance. An introductory whiteboard lesson explains all the key concepts you need to know about purchase-to-pay in one place. There is a handy workbook that you can use to capture all the learnings and apply what you have learned so that you can take your performance to the next level. There’s also an overview lesson that I teach from a whiteboard so you have all the key concepts explained in one place before you go into the detailed lessons.
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COURSE OBJECTIVES
By the end of the course, you‘ll be able to:
- The purchase to pay process and why it is so important to manage spend in an organisation
- How supplier payments are handled and how they should be linked to upfront approvals
- The importance and approach to procurement training, to ensure users are well equipped
- Catalogues, shopping carts, electronic purchase orders and other concepts
- Different types of spend compliance and why its important to use these to improve procurement
- Different ways of matching documents to control the purchase to pay process
- What a limit order is and how it is used for commodities which cannot be catalogued
- The importance of the purchase order number and why the supplier must quote it on their invoices
- Centralised buying can be more efficient, especially when employees are too busy to use purchasing systems
- How a central payments department receives invoices and makes payments using automated invoice scanning
- Why its important to link procurement system access to user training certification
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COURSE AUDIENCE
This course is made for
- Purchasing managers
- Supply chain managers
- Sales and Marketing managers
- Business excellence officers
- Employees that are involved in purchasing who want to manage their company’s money better
- People who wok in suppliers of purchasing organisations
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COURSE OUTLINE
Day One
Introduction
- Introduction To Procurement Masterclass: A Complete Guide To Purchase To Pay
- Whiteboard Overview Lesson: All Key Concepts Of Purchase To Pay That You Need
- A Complete Guide To Purchase To Pay
Day Two
Procedures of Organizing Procurement Work
- Learn About The Types Of Spend Compliance: Supplier, Channel, Non-Compliant
- Grasp Key Concepts Similar To E-Commerce Like Catalogues And Shopping Carts
- Understand Efficient Purchasing And How Good Practices Reduce Overall Costs
Day Three
Anatomy of PO
- Learn About The Anatomy Of A Purchase Order: What Goes In The Header
- Learn About The Anatomy Of A Purchase Order: All About The Line Items Level Info
- There Are Different Types of Purchase Orders: Master Them In This Lesson
Day Four
PO Control
- Learn All About Powerful Procurement Controls Such As 2-Way and 3-Way Matching
- Tracking Orders And Centralised Purchasing Teams To Improve Control Of Buying
- Making Payments To Suppliers
Day Five
PO Management
- Management Techniques and Monitoring of Stores
- Analysis and Inventory Control Methods
