Explain the procedure involved in the purchase of materials.

QUESTION

Explain the procedure involved in the purchase of materials.

lt;br />3. Purchase order: After selecting the supplier on the basis of the bids received the purchase manager places a purchase order with the supplier of the materials. It is a contractual agreement between the supplier and the company placing the order.4. Receiving and inspecting materials: The receiving department takes the delivery of the goods and inspect the materials received by comparing the goods received to the one specified in the purchase order. They also ensure that the quality of the goods is as per the order.5. Passing bill payments: once the goods are approved by the storekeeper the accounts department passes the payment of the supplier.

ANSWER:

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