July 6, 2021
Purchase Order Management System
Digital Purchase Order
Companies rely on tools and supplies to perform tasks and buy lot of them from external vendors. Many business use a Purchase Order to document, authorize and track those purchases. However, traditional paper based purchase orders process requires lot of time to complete, could be error prone and leaves lot to be desired when used daily.
Purchase Order are used to record purchase of tools and supplies from external vendors. It records various tools and supplies to be purchased, vendor to purchase from, purchase price and quantity to be purchased. Additionally purchase order also record any discounts, taxes, payment terms and expected date of fulfillment. With paper based purchase orders, users have to fill out all details, manually do the calculations, and then spend even more time pushing paper around for approval and payment.
Besides being time consuming and error prone, paper based purchase orders also lock valuable data on paper and making it difficult, if not practically impossible, to use purchase data for analytics and better decision making.
Purchase Order in ToolWorks
ToolWorks Purchase order management system takes a modern data driven approach to old paper based purchase order process. Digital Purchase Orders have several advantages compared to paper: ( and ToolWorks makes it easy to create them.)
Digital purchase orders are faster to create and perform error checking as data is being entered. Also with easy lookups, data entry is minimized and user can create purchase orders easily with minimal data entry.
Electronics Purchase Orders come with automated workflows and once purchase orders are created, they are automatically routed to approver. Approvers are notified about pending approvals and can review and approve with one click! No need for purchase order create to find and chase anyone for approval.
One core benefit of digital Purchase order is central data from all past purchase orders. They are gold mine for analytics and can be used for better negotiations with vendors and for help with future purchase decisions. They provide valuable insights into buying habits, spend with various vendor and supplies, price trends and more!
Streamline the Procurement Process
Tool and supplies procurement is key part of tool store inventory management, but they are often not paid enough attention they deserve. Electronics Purchase Orders help streamline purchasing and ensure proper tools and supplies are in stock when needed.
- Reduce Overhead: Digital purchase orders eliminate computational errors with automated calculations and reduce overhead with Vendor management
- Control Spending: With embedded approval workflow, they help to control and reduce wasteful or unintentional spending and keep cost in check.
- Quick Reordering: Digital purchase orders help tool store quickly reorder needed parts with easy purchase order creation, automated approval workflows and notifications.
Improve Purchase Fulfillment
Digital Purchase Order provide full visibility into every stage of purchase process and help improve fulfillment
- With automatic audits, you can track purchase orders from creating to fulfillment and stay up to date about status at anytime with timely notifications
- When items are received and entered on purchase orders, they are automatically added to inventory and immediately available for ordering by users
- It is easy to track purchase orders fulfillment status and see which purchase orders have not been fully received, helping you hold vendors and suppliers accountable.
ToolWorks Digital Purchase Order provide complete visibility into purchasing operations and helps with data driven insights to reduce cost.
To learn more about tool inventory software with digital purchase order management, check out ToolWorks