Unlocking Efficiency: Mastering the P2P Cycle in Procurement 

Procurement is a critical process that connects organizations with their suppliers to ensure they receive the right goods or services on time and at the best value. The procurement process can be broken down into several key steps, as shown in the workflow below:

1️⃣ Create Purchase Order – Initiate the process by specifying what is needed.

2️⃣ Send out RFQ – Request quotations from multiple vendors.

3️⃣ Analyze and Select Vendor – Evaluate responses and choose the best supplier.

4️⃣ Receive and Check Invoice – Ensure the invoice matches the purchase order.

5️⃣ Negotiate & Send PO – Finalize details and send the purchase order.

6️⃣ Receive Goods or Services – Verify that the delivered items match your order.

7️⃣ Authorize Invoice & Pay Vendor – Approve the invoice for payment.

8️⃣ Record Keeping – Keep a record of all procurement documents for future reference.

Each of these steps ensures that procurement runs smoothly from start to finish. By maintaining a structured process, businesses can reduce errors, manage supplier relationships effectively, and keep operations running smoothly. ✅

At Bandy and Moot Private Limited, our approach to procurement goes beyond simple transactions. We view it as a key driver of value, ensuring that the materials and services we procure contribute to our overall success. By optimizing each step of the P2P cycle, we are able to maintain cost efficiency, reduce risk, and build stronger partnerships with our suppliers.💬