Basic Difference: Company Monsters And Monsters want to buy Peanut Butter for their button-shaped candies. They can buy it either from an external vendor Charlie And Peanut Factory (CPF) or their own subsidiary PBS. When the procurement is done by... Continue Reading →
The Procurement Process in MM can be defined as a process to acquire goods in the right amount at the right price when it is expected. It needs to manage a fragile balance of the requirement, the costs and the... Continue Reading →
The first thing to understand is that Purchase Order is a legal document. It can trigger a transaction immediately which means that some product or service is sold and bought. There is a procurement aspect and then, there an accounting... Continue Reading →
Batch Management is an essential component of almost every industry from Retail to Aerospace and is incorporated in almost every phase of business from procurement to sales. What is a batch? A batch is set of products produced in a... Continue Reading →
Every company has vendors for supplies and services. Consider Samsung's television department. For the remote control devices, Samsung needs AAA batteries. Either Samsung manufactures them or ask a vendor to provide the batteries. Assume Samsung Purchasing department follows the latter... Continue Reading →
Purchase Information Record or PIR stores the information for a material beyond material master. It is built upon the information available for a material and the specific vendor who supplies it. Hence, it corresponds to a vendor and can be... Continue Reading →
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