Purchase to Pay
Pre-Purchase Activities
- Assess project requirements.
- Identify quantities and quality standards.
- Specify delivery timelines.
- Document functional and technical criteria.
- Review historical purchase data for insights.
- Research suppliers in the market.
- Consider existing supplier relationships.
- Compile a list of potential vendors.
- Evaluate suppliers based on capabilities.
- Ensure diversity and sustainability in sourcing.
- Analyze market trends and pricing.
- Review supplier reputation and reliability.
- Evaluate financial stability of suppliers.
- Gather feedback from other customers.
- Assess supplier compliance with industry standards.
- Prepare budget estimates based on needs.
- Submit budget for departmental approval.
- Ensure alignment with organizational spending policies.
- Document approvals for audit purposes.
- Communicate budget status to relevant stakeholders.
- Identify sourcing options and channels.
- Determine supplier selection criteria.
- Assess risks associated with sourcing decisions.
- Align sourcing strategy with company goals.
- Plan timelines for sourcing activities.
- Draft clear and concise RFP/RFQ documents.
- Include specifications, deadlines, and criteria.
- Ensure legal and compliance requirements are met.
- Outline evaluation process for proposals.
- Provide contact information for inquiries.
- Compile a list of shortlisted suppliers.
- Distribute RFPs/RFQs with clear instructions.
- Set a deadline for responses.
- Follow up to confirm receipt.
- Offer assistance for any questions.
- Review proposals against criteria set in RFP/RFQ.
- Compare pricing, terms, and conditions.
- Assess the feasibility of proposed solutions.
- Involve relevant stakeholders in the evaluation.
- Document analysis for transparency.
- Prepare negotiation strategy and objectives.
- Discuss pricing, delivery, and payment terms.
- Clarify any ambiguities in the proposal.
- Ensure mutual understanding and agreement.
- Document final terms in writing.
- Schedule visits to supplier locations.
- Prepare an audit checklist prior to visit.
- Evaluate operations, quality controls, and capacity.
- Engage with key personnel during visits.
- Document findings and assess compliance.
- Review historical performance data.
- Assess quality, delivery, and service metrics.
- Consider past relationship dynamics and issues.
- Seek feedback from internal stakeholders.
- Determine potential for future collaboration.
- Select suppliers based on evaluations.
- Compile a list of preferred suppliers.
- Communicate decisions to selected suppliers.
- Ensure all documentation is complete.
- Review and update preferred list regularly.
- Draft a standardized purchase order template.
- Include essential terms and conditions.
- Ensure compliance with legal requirements.
- Review template with legal counsel if necessary.
- Disseminate template within purchasing department.
- Review internal procurement policies.
- Ensure adherence to regulatory standards.
- Conduct training for relevant personnel.
- Document compliance checks.
- Implement corrective measures if needed.
Use in Manifestly