Procurement Plan
For the manufacturing, constructing or engineering company having the frequently requirements of some material which is used for the project running, material can monthly, yearly that pre schedule for the purchasing material planning is very important to understand requirements, demands & market concern. A strong procurement plan gives the hidden profit in the costing that directly can’t measure, hence the procurement plan mostly management focus when having frequently requirements. Here as below given example format for the procurement plan:
Order Acceptance number
Material Identification number
Material Name & Description
Annual Quantity requirement
Unit of measurement
Month wise procurement planning in quantity
Total Budget Amount
Technical Document number & Reference document number
Remarks
Procurement plan is start when the purchase order acceptance are raised, each purchase order against material requirements are need to consider for the current or as and when requirements of the material in the company. Mostly companies are making a annual procurement planning that possible to minimize cost of the purchasing products.
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