Mastering Purchase Order Fundamentals

In today’s fast-paced business environment, traditional paper-based processes are being rapidly replaced by electronic systems that support decentralized desktop ordering and just-in-time delivery—while balancing the need for robust internal controls.

The session offers an engaging, hands-on experience designed to explore the essentials of modern procurement offices and the role of purchase order systems. You’ll gain valuable insights into purchasing processes, common pitfalls to avoid, and effective strategies for improving your PO operations.

Whether you're a seasoned professional or a manager, this interactive session provides a unique opportunity to share experiences, ask questions, and discover fresh ideas to elevate your current practices.

Enhance your expertise and sharpen your skills through a deep dive into the world of purchase orders. By the end, you'll walk away with a clearer understanding of the PO process, best practices for handling POs, and strategies to minimize errors and optimize your workflow.

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.

• Master the steps to effectively initiate and manage the PO process from start to finish
• Discover best practices for accurately receiving and verifying orders to ensure smooth transactions
• Gain expertise in proper payment procedures to maintain timely and accurate financial processes
• Learn how to track deliveries efficiently and proactively identify and resolve potential issues
• Understand the intricacies of online ordering systems and their integration with POs
• Improve knowledge of procurement card processes and their role in streamlining purchasing
• Build confidence in avoiding common PO pitfalls and ensuring a seamless procurement operation

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

Host or Publisher SkillPreceptor