To run a successful business, you need to embed the concept of using purchase orders as an official way to order new inventory as quickly as possible.
A purchase order is simply a document that formally requests goods from a supplier or vendor. The alternative to having a structure and process behind it is to simply do so over the phone, or via email. Even when the buying volumes and ordering frequencies are small, you can still find yourself questioning deliveries when they arrive, or the costs listed on the invoice. By having your purchases organised, collated, and managed in a structured system, you’ll always be able to immediately and directly answer these key questions:
Furthermore, businesses thrive when they have good relationships with their vendors. When theres a good relationship you can naturally benefit from more flexible or generous payment and credit terms, or be given priority when it comes to ordering items that are in high demand.