ENTREPRENEURIAL OPERATIONS
PRODUCTION PLANNING AND CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Procurement Section will procure materials or goods when other sections issue and submit documents:
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Purchase Requisition (PR)
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Purchase Order (PO)
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Purchase Invoice
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Payment Order
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Explanation:
Detailed explanation-1: -The purchase requisition form is submitted to the purchase department for approval which is the first step in creating an effective audit trail for purchasing. Once the purchase requisition is approved by the relevant department, a purchase order is issued to the vendor of the requested goods or services.
Detailed explanation-2: -Procurement is the method of acquiring or obtaining goods, services, or works from an external source. Material procurement is the process of researching, selecting, ordering, and paying for the raw materials required for constructing a building or structure.
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