• Need identification: This process starts when submits a request to the purchasing department. The request can be relatively simple or complex Whatever it is, the request needs to be submitted in writing and sufficiently detailed.• Vendor selection: The procurement department needs to investigate vendors, request quotes for the item needed, and select a vendor. This is an important part of the process because reputation, cost, speed of service, and dependability all need to be investigated before making a final decision. The rule of thumb is to get at least three quotes, but that’s a best practice that your organization will need to determine.• Submit purchase requisition: get purchase approval. After you’ve identified the vendor and agreed on the details, you’ll need written approval from the department responsible for approving purchases. • Generate purchase order: After purchase approval, the finance Dept. will issue a purchase order to the vendor. • Invoice and order: The vendor will then submit an invoice to the purchaser. The invoice is a request for payment and gives a detailed breakdown of the cost. The invoice will also give a deadline for payment, and you’ll need to submit payment before the deadline or else there may be a penalty (which is usually detailed in the invoice, as well).• Payment: After you've received the goods or services, it’s time to pay your vendor. Finance sends the payment over to the vendor in the preferred method of payment.• Keep for records:All steps above need to be documented for internal and external audits, so you’ll need a central location to store invoices, orders, and other accompanying documentation. Make sure you’ve built in redundancy here; you’ll likely be using a digital purchasing method, so it may benefit you to print out paper versions of documentation and store them in a secure place in case of a total electronic apocalypse.

Head of Procurement & Supply Department at Absun Palayesh