What are the similarities between a purchase order and an invoice?
Both documents are legally binding contracts. This means that the agreement has been made by both the purchaser and the vendor, and that the actions...
Category : Business
Differentiation Between Purchase Order and Invoice
Purchase orders and invoices are documents that nearly every finance department deals with on a daily basis. So, what are these two documents, and why...
Differentiation Between a Purchase Requisition & Purchase Order
Our goal with this post is to explain the basics about purchase requisitions vs. purchase orders, and share some tips on optimising the purchase requisition...
The Importance of Supplier Management System
First, let’s take a look what types of suppliers a business can work with: Wholesalers & Distributors -Wholesalers purchase large quantities of goods in bulk and then...
Some Strategies for Improving SRM(Supplier Relationship Management)
Supplier relationship management (SRM), in simplest terms, refers to interacting with and managing third-party vendors that provide goods, materials, and services to your organisation. It...