Answer / umesh mohan

Determination of Requirements
Source Determination
Vendor selection and comparison of quotations
PO processing
PO follow-up
Goods receiving and inventory management
Invoice verification
Payment processing

Answer / rajesh

purchase requition - source of supply - vendor selection -
purchase order - goods receipt - invoice verification

Answer / girish

1.Determination of Requirement
2.Determination of source of supply
3.Vendor Selection
4.Order Processing
5.PO monitoring
6.Goods Receipt
7.Invoice Receipt
8.Invoice Verification
9.Payment Process

Answer / mdinamulhaq

* Determination of Requirement
* Creation of Service Specification
* Source Determination
* PO Processing
* Order Follow up
* Goods Receipt or Service Entry
* Service Acceptance
* Invoice Verification

Answer / dulabhai

* Material selection
* Requirment
* vendor selection, RFQ and agreement
* PO
* PO monitoring
* GR/IR
* Invoice verification
* In time payment

Answer / dinesha r

1.Material
2.vendor
3.source availability
4.Agreement
5.Requistion
6.Purchase order
7.Receipt
8.Invoice verification
9.due days of payment
10.payment terms

Answer / patel

Hi,

This is a common question that is asked in the interview. The best to answer this question is as follows:

1) Create a source list with approved vendors, validity period, and a fixed vendor.

2) Now create a PR and assign source list that was created to PR through "Assign Sources of Supply."

3) Create a RFQ
4) Vendor Selection
5) Create a PO
6) Create a GR, and then IR. 
7) Invoice Verification
8) FIN Reconcile the postings of GL accounts
9) Then Admin does the automatic payment processing.

If you have any questions please revert back.

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