Purchase Order Fundamentals

Image credit: Nick Youngson CC BY-SA 3.0
On-Demand Schedule Wed, February 08, 2023 - Wed, February 15, 2023
Duration 90 Mins
Level Basic & Intermediate & Advanced
Webinar ID IQW22L1206

The benefit of Using a Purchase Order System

  • A Purchase Order is a Contract
  • Creating A Purchase Requisition
  • Maintaining a vendor DataBase
  • Maintaining Internal Account Records
  • Receiving Merchandise
  • Payment of Invoices
  • Tracking the Process Using a Computer
  • Keeping Records for Future Use

Types of information to include on the Purchase Order

  • Vendor Record Information
  • Delivery and Contact information
  • Product or Service description
  • Basic Contract Information
  • Freight Terms
  • Delivery dates
  • Payment Term
  • Coding for Accounting
  • Information for property/asset tracking
  • References to your terms and conditions
  •  Authorized Signature of Agent

 Types of Purchase Orders

  • Purchase Order for Commodities
  • Purchase Orders for Services
  • Blanket or Standing Purchase Orders
  • Confirming Purchase Orders
  • Reimbursements
  • No Order Payments
  • Procurement Card Orders
  • Online Electronic Orders

Purchase Order Pitfalls

  • Ordering Outside the Purchase Order Process
  • Vendor Quotes
  • Conflicting Terms
  • Timeliness of Ordering
  • Managing Paper
  • Decentralized VS Centralized Processes
  • Proofreading the Document
  • Tracking Order Delivery
  • Approval Layers
  • Internal Controls
  • Cost of Processing

 

Overview of the webinar

Purchase Order Fundamentals will be an interactive experience covering the basics of a current procurement office and how purchase order systems are used. The topics covered will give the beginner an understanding of basic purchasing processes and how to avoid common mistakes. The experienced Professional and Manager will be able to discuss interactively and share their experiences and ask questions to enhance their current operations with fresh ideas. Today’s fast-paced demands are requiring the rethinking of the standard paper processes and the use of electronic systems to facilitate decentralized desktop ordering, with just-in-time delivery while weighing the risks to internal controls.

Who should attend?

  • Purchasing Agents  
  • Buyers
  • Accounts Payable Staff’
  • Shipping & Receiving Staff
  • Equipment Management Staff

Why should you attend?

This is a great training program for the new procurement professional and the seasoned one may pick up some new ideas as well. It also covers payments and delivery so those in accounts payable and the receiving dock may benefit as well. Learn best practices and how to avoid problems when creating a purchase order.

Faculty - Mr.Ken Jones

Ken Jones has been working in the public and non-profit procurement field for over 30 years. He worked for the New York State Office of Taxation and Finance as a Purchasing Assistant from 1985-87 and left there to work for the University at Albany, SUNY where he served as a Purchasing Agent and in 1999 was the Assistant Director supervising and providing training for the Office of Purchasing and Contracts. This included proving training for both State procurement and The Research Foundation for SUNY procurement rules and regulations.  His previous purchasing experience included procuring commodities, services, and construction for the departments on campus.A past Director of the SUNY Purchasing Association, Ken retired from the position of Assistant Director in January of 2014. However, he was requested to continue to assist the office through the end of 2014. Ken worked part-time for the SUNY Center for International Development as a Procurement Specialist assisting primarily with their program in Kenya, Africa. Ken has trained many University staff on procurement rules and regulations. He established online ordering processes with vendors ranging from Office supplies to Lab chemicals and continued to provide training in his recent positions. After the Kenya Contract expired Ken continued to assist the UAlbany Purchasing Office with complex procurements through July of 2021. Ken has presented on various procurement topics both in person and on the Web for over 10 years. 

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