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Edit Comment Close Premium member Presentation Transcript SD.M.BHASHAM.PHARM 1ST YEARDEPT OF PHARMACEUTICS : Purchasing cycle and procedure in material management SD.M.BHASHAM.PHARM 1ST YEARDEPT OF PHARMACEUTICS Slide 2: INTRODUCTION The purchase department takes the purchasing decisions Each company develops its own operating procedures to implement the purchasing policies These policies act as guide for the individuals involved in a specific work The procedures framed should be simple & result oriented Slide 3: One type of complete purchase cycle is given below: Need recognition Spell out of specifications & requirements Official requisition Check specifications, prices/supplies Specifications file Purchase records Slide 4: Select suppliers Inquiry tender Suppliers records Quotations & analysis Prices & terms, Negotiations, Finalization. Purchase order for supply Slide 5: Suppliers acceptance Follow up Delivery of materials Materials & reports, analysis Checking of invoice with purchase order Payment made Slide 6: Basic elements in the purchase transactions are discussed in the following sequence They are : Recognition of need and receipt of requisition Selection of potential sources of supply Receipt and analysis of quotations Selection of right source of supply Issuing of purchase order Follow-up of the order Slide 7: Receipt of materials , reports and analysis Checking and approving of vendor Closing of completed orders Maintenance of records & files Slide 8: RECOGNITION OF NEED & RECEIPT OF REQUISITION: After the identification of need for a particular item , an official indent is sent in duplicate to purchase department The requisition includes the following information: Name Quality specifications Quantity specifications Slide 9: Date by which material is required Place at which material is to be delivered SELECTION OF POTENTIAL SOURCES OF SUPPLY: It is more economical to purchase items directly from firm(manufacturing) itself The department usually maintains an approved list of suppliers It is desirable to know more details about the capacity of the supplier Slide 10: The details requested include company’s annual sales,accounts,type of operations, facilities,company’s location. RECEIPT & ANALYSIS OF QUOTATIONS: After receiving quotations from different suppliers,they are compiled and a comparative statement of prices is prepared which helps in taking quick decision The following aspects should be given adequate considerations Slide 11: Material specifications & quality Price of the material Taxes Terms of payment Place of delivery Delivery period Guarantee period Validity of tender Slide 12: Comparative statement is analyzed on the above points and the right quotation is selected for ordering. SELECTION OF RIGHT SOURCE OF SUPPLY: Price is an important consideration for finalizing the purchases Apart from that several aspects should be considered . They are: Will the vendor maintain quality? Will vendor supply material in time? Does the vendor possess adequate facilities to handle the contract? How far the vendor’s plant is situated Slide 13: Based on the personal experience , reputation of the company and comparative statement,the right supplier is selected ISSUING THE PURCHASE ORDER: After selecting the right supplier, the purchase order is prepared and dispatched to the supplier. The purchase order constitutes a legal document When the vendor accepts the purchase order,it acts as a contract for the delivery of items. Slide 14: FOLLOW-UP OF THE ORDER: After placing the order ,the purchase service-section contacts the vendor to know the progress of the order,meeting the delivery date, mode of shipment etc. Specially designed postcards containing the following information is employed for routine follow-up: Purchase order number Pre-decided delivery date Slide 15: All verbal communications are confirmed by writing A good follow- up will produce delivery of items in time RECEIPT OF MATERIALS,REPORTS AND ANALYSIS: The company receives the materials along with the analytical reports After verification of the reports and purchase order ,the material is warehoused Slide 16: The Q.C department collect the samples randomly and analyze for it's specifications Once the material is approved, a label is attached to the package or container CHECKING & APPROVING OF VENDOR’S INVOICE FOR PAYMENT: Copies of bills are received along with materials The bill should be checked to ensure that the correct material is supplied Slide 17: The prices are checked as per the purchase order and verified whether agreed discounts are given or not Finally bill is payed in the form of cheque to the vendor CLOSING OF COMPLETED ORDERS: Before closing the executed orders the file copy of the purchase order must be checked against delivery reports and vendor’s bill once again. Then purchase order is closed finally. Slide 18: MAINTENANCE OF RECORDS AND FILES: The final step in the purchasing procedure is the maintaining of order records. Slide 19: THANK YOU You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
purshasing cycle bhasha Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 785 Category: Entertainment License: All Rights Reserved Like it (1) Dislike it (0) Added: April 22, 2010 This Presentation is Public Favorites: 2 Presentation Description No description available. Comments Posting comment... By: nicolelini (14 month(s) ago) can i download this presentation plz Saving..... Post Reply Close Saving..... Edit Comment Close By: nicolelini (14 month(s) ago) very nice presentation Saving..... Post Reply Close Saving..... Edit Comment Close By: aimer (19 month(s) ago) can i have it downloaded Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript SD.M.BHASHAM.PHARM 1ST YEARDEPT OF PHARMACEUTICS : Purchasing cycle and procedure in material management SD.M.BHASHAM.PHARM 1ST YEARDEPT OF PHARMACEUTICS Slide 2: INTRODUCTION The purchase department takes the purchasing decisions Each company develops its own operating procedures to implement the purchasing policies These policies act as guide for the individuals involved in a specific work The procedures framed should be simple & result oriented Slide 3: One type of complete purchase cycle is given below: Need recognition Spell out of specifications & requirements Official requisition Check specifications, prices/supplies Specifications file Purchase records Slide 4: Select suppliers Inquiry tender Suppliers records Quotations & analysis Prices & terms, Negotiations, Finalization. Purchase order for supply Slide 5: Suppliers acceptance Follow up Delivery of materials Materials & reports, analysis Checking of invoice with purchase order Payment made Slide 6: Basic elements in the purchase transactions are discussed in the following sequence They are : Recognition of need and receipt of requisition Selection of potential sources of supply Receipt and analysis of quotations Selection of right source of supply Issuing of purchase order Follow-up of the order Slide 7: Receipt of materials , reports and analysis Checking and approving of vendor Closing of completed orders Maintenance of records & files Slide 8: RECOGNITION OF NEED & RECEIPT OF REQUISITION: After the identification of need for a particular item , an official indent is sent in duplicate to purchase department The requisition includes the following information: Name Quality specifications Quantity specifications Slide 9: Date by which material is required Place at which material is to be delivered SELECTION OF POTENTIAL SOURCES OF SUPPLY: It is more economical to purchase items directly from firm(manufacturing) itself The department usually maintains an approved list of suppliers It is desirable to know more details about the capacity of the supplier Slide 10: The details requested include company’s annual sales,accounts,type of operations, facilities,company’s location. RECEIPT & ANALYSIS OF QUOTATIONS: After receiving quotations from different suppliers,they are compiled and a comparative statement of prices is prepared which helps in taking quick decision The following aspects should be given adequate considerations Slide 11: Material specifications & quality Price of the material Taxes Terms of payment Place of delivery Delivery period Guarantee period Validity of tender Slide 12: Comparative statement is analyzed on the above points and the right quotation is selected for ordering. SELECTION OF RIGHT SOURCE OF SUPPLY: Price is an important consideration for finalizing the purchases Apart from that several aspects should be considered . They are: Will the vendor maintain quality? Will vendor supply material in time? Does the vendor possess adequate facilities to handle the contract? How far the vendor’s plant is situated Slide 13: Based on the personal experience , reputation of the company and comparative statement,the right supplier is selected ISSUING THE PURCHASE ORDER: After selecting the right supplier, the purchase order is prepared and dispatched to the supplier. The purchase order constitutes a legal document When the vendor accepts the purchase order,it acts as a contract for the delivery of items. Slide 14: FOLLOW-UP OF THE ORDER: After placing the order ,the purchase service-section contacts the vendor to know the progress of the order,meeting the delivery date, mode of shipment etc. Specially designed postcards containing the following information is employed for routine follow-up: Purchase order number Pre-decided delivery date Slide 15: All verbal communications are confirmed by writing A good follow- up will produce delivery of items in time RECEIPT OF MATERIALS,REPORTS AND ANALYSIS: The company receives the materials along with the analytical reports After verification of the reports and purchase order ,the material is warehoused Slide 16: The Q.C department collect the samples randomly and analyze for it's specifications Once the material is approved, a label is attached to the package or container CHECKING & APPROVING OF VENDOR’S INVOICE FOR PAYMENT: Copies of bills are received along with materials The bill should be checked to ensure that the correct material is supplied Slide 17: The prices are checked as per the purchase order and verified whether agreed discounts are given or not Finally bill is payed in the form of cheque to the vendor CLOSING OF COMPLETED ORDERS: Before closing the executed orders the file copy of the purchase order must be checked against delivery reports and vendor’s bill once again. Then purchase order is closed finally. Slide 18: MAINTENANCE OF RECORDS AND FILES: The final step in the purchasing procedure is the maintaining of order records. Slide 19: THANK YOU