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Home> Features > ERP > Buying

Buying


The buying module is designed to optimize and manage the procurement process, ensuring that organizations acquire goods and services efficiently, transparently, and in alignment with their operational needs. By integrating various procurement functions into a single platform, this module enhances productivity, reduces costs, and maintains comprehensive documentation throughout the purchasing cycle.







Purchase Order


A Purchase Order (PO) serves as a formal document issued by a buyer to a supplier, indicating the buyer's intent to purchase specific products or services.LANA ERP systems enable the automatic creation of purchase orders based on predefined criteria.

● All purchase orders are stored in a centralized database, allowing authorized personnel to access, review, and manage them efficiently.

● This centralization facilitates better tracking and auditing of procurement activities.Upon PO approval and goods receipt, inventory levels are automatically updated, ensuring real-time visibility of stock quantities and aiding in inventory management.

● PO details are synchronized with accounting modules, ensuring accurate financial records and facilitating timely payments to suppliers. This integration helps in maintaining budgetary controls and financial transparency.





Purchase Receipt


A Purchase Receipt is a document generated upon the arrival of goods or services from a supplier. It serves as a formal acknowledgment of the receipt of items ordered through Purchase Orders (POs) and plays a crucial role in inventory management, financial accounting, and supplier relationship management.

● Recording a purchase receipt updates inventory levels, reflecting the addition of new stock. This ensures accurate tracking of available quantities and supports efficient inventory control.

● It often allows specification of storage locations within warehouses, facilitating precise inventory management and retrieval.





Purchase invoice


A Purchase Invoice is a document received from a supplier detailing the goods or services provided, their quantities, agreed-upon prices, and total amount due. This document serves as a request for payment and is a critical component in the procurement and financial processes of an organization.

● Purchase invoices record expenses in the financial system, ensuring that costs are accurately reflected in financial statements.

● Invoices are entered into the accounts payable module, facilitating timely payments and helping to manage cash flow effectively.





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