03_Purchasing_process

03_Purchasing_proces - Reduce complexity Improve forecasting Management support 3 4 5 6-Procure-to-Pay Process • Any ideas on optimizing the P2P

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- 1 - The Purchasing Process
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- 2 - Purchasing Process Best Practices – CAPS Research Study Results Enablers: Finance, Legal, Human Resources, Information Technology Forecast and Plan Requirement Need Clarification/ Requisition Supplier Identification / Selection Approval/ Contract/ P.O. Generation Receive Material & Documents Settle, Pay, and Measure Performance Robust processes and training Dedicated relationship manager Simplified online portals
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Unformatted text preview: Reduce complexity Improve forecasting Management support- 3 -- 4 -- 5 -- 6 -Procure-to-Pay Process • Any ideas on optimizing the P2P process? … to get you started: Time to complete a payment cycle*- 10 days- 5.1 days X *The P-Card Manifesto, Aberdeen Group It gets even better: A/P integration Cost to process: $9.87 $6.48 Spend u. mgt.: 59% 70% DPO: 30 days 25 days...
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This note was uploaded on 12/29/2011 for the course SCM 371 taught by Professor Tobias during the Fall '11 term at Michigan State University.

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03_Purchasing_proces - Reduce complexity Improve forecasting Management support 3 4 5 6-Procure-to-Pay Process • Any ideas on optimizing the P2P

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