Enhance Purchase Order Efficiency and Visibility: The Expert Advice

purchase order efficiency

Businesses want to ensure that the purchase order management system can provide visibility into all stages of the purchase order process. This will allow us to track the orders from receipt through shipment and payment processing. In addition, purchase order systems must provide robust data handling, automation, and integration with other company-wide systems to serve as the backbone for cross-functional operations.

Flash Survey shows that only 50% of procurement organizations surveyed had high or very high visibility into their tier 1 suppliers, while 90% of organizations rated visibility into their extended supply networks as moderate to very low.

As businesses grow, a purchase order system must be able to provide avenues for audit logging of all purchases, sales, and other transactions that occur within the company. An effective way to manage all the process flow and critical functional and behavioral changes is to use next-generation purchase order systems that suit the current business priorities and are proactive to future changes.

As per the flash survey, even today, 40% of companies are utilizing manual spreadsheets and offline modeling in their planning processes.

Let’s dive deep into how Settyl’s purchase order visibility software helps to plug the digital divide and serve SMBs to tide over the crisis of operational efficiency.

Centralize all your orders in one system

Companies must adapt their purchasing strategies to stay competitive as the global economy continues evolving. Purchasing departments have many responsibilities, including ordering materials; receiving goods; creating invoices; monitoring stock levels; generating reports; accounting for inventory; tracking shipments, and reporting on inventory usage trends.

Settyl allows you to track orders through the entire delivery process, providing the ability to get updates about the status of orders. This feature also offers a centralized platform where we can view all orders at once and allow procurement and transportation departments to collaborate effectively and perform tasks like tracking shipments, managing inventory, and more.

Automate the Purchase Order fulfillment Process

Settyl helps automate the entire order fulfillment process, from receiving orders to identifying the right cartonization to pack them, shipping them out, and invoicing our customers.

With the provision to add dynamic POA, Fulfillment, and Return centers, customers will be provided with better visibility into the entire order process, including how long it will take to fulfill their order with predictive analytics on smart ETAs (Estimated Time of Arrival).

Real-Time Sync of Information

For instance, when you have procurement and logistics executives across multiple sites – a collaboration among all the cross-functional teams and stakeholders plays a crucial role in success.

Settyl allows sharing data instantly without waiting until the day ends and then syncing everything back up with finance or any other 3rd party IT systems.

Data-visibility layer with a bottom-up approach and embedded organization hierarchy ensures access to relevant purchase order information, the latest transactions, and purchase order audit history for intended users. This helps prevent errors, increase accuracy, and save time overall, directing focus on what is essential.

Integration with Suppliers

Integration with third-party suppliers helps you keep track of both inbound and outbound shipments to plan workforce for special handling proactively, ensure the availability of raw materials for production, and foresee any unknown risks throughout the journey and their impact.

Moreover, a collaborative supply chain strategy ensures businesses are aligned on common goals with differentiated responsibilities to ensure smooth execution.

Purchase Order Efficiency: Maintain Accuracy at all Levels

Purchase Order visibility refers to the ability of product line items to remain visible from pre-shipment to the final moment of reaching customers. This seamless workflow does not interfere with your business processes but helps gain intelligence on inaccurate orders, delays, errors, and even client dissatisfaction.

Three levels of accuracy need to be maintained to increase the operational efficiency of the purchase order solution.

The first level is “At pickup accuracy,” which means that all the line items are packed and are ready for shipments to delight customers and ensure cent percent line rate utilization.

The second level is “In-transit accuracy,” which means disseminating real-time location updates to all stakeholders and monitoring agreed cold chain temperature throughout the shipment journey to ensure quality levels, reduce mishandling and eliminate cargo theft.

The third level is “At delivery accuracy”, which means delivering the right quantity to the right recipients without any damages, thereby reducing churn and returns

Discover how Settyl can help your business succeed! Read more about Settyl’s purchase order visibility software.