Purchase Order Fundamentals

Increase your knowledge and enhance your skills with an in-depth discussion surrounding the world of purchase orders.

Purchase order fundamentals will be a web-based training experience covering the operations of a procurement office and how purchase order systems are used. The topics covered will give you an understanding of purchasing processes and how to avoid common mistakes.

Today's fast paced demands are requiring rethinking of the standard paper processes and the use of electronic systems to facilitate decentralized desk top ordering, with just in time delivery while weighing the risks to internal controls.

Learning Objectives:

This Live Webinar Covers These Hot Issues:

The Benefit in Using a Purchase Order System

• A Purchase Order Is a Contract
  
• Creating a Purchase Requisition
  
• Maintaining a Vendor Data Base
  
• 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 Terms
  
• 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
  
• Proof Reading the Document
  
• Tracking Order Delivery
  
• Approval Layers
  
• Internal Controls
  
• Cost of Processing

Credit Information (Sponsored by Lorman Education Services):

• CLE
• CPE
• ISM
• NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

Kenneth M. Jones, University at Albany, SUNY

• Special assistant of institutional services, University at Albany, SUNY
• Supervise and train purchasing professionals in government, educational and nonprofit purchasing
• More than 25 years of direct procurement experience that includes all aspects of procuring services, commodities, construction and construction services using formal bids, request for proposals, establishing contracts and monitoring vendor performance in a decentralized environment
• Conducts regular seminars and workshops on public procurement and related topics
• Experienced in working with the implementation and development of large and local procurement systems
• Experienced in developing strategic sourcing models and improved procurement practices
• Served on the board of directors of the State University of New York Purchasing Association
• Attended various workshops and training events including those provided by Dale Carnegie, SUNY, the NYS Comptroller, NYS Office of General Services and many others
• Can be contacted at 518-875-6854 or kjones8@nycap.rr.com