PO stands for Purchase Order. Purchase Order Management effectively and efficiently organizes your sales with your products and logistics.
PO Management creates a system that spans across your logistics to ensure the proper and timely fulfillment of customer orders. With PO Management, you provide customers with product and service satisfaction.
Purchase order management is an internal business function. Companies use a purchasing process to acquire inventories, operational assets and other items needed to produce goods or services. Purchase orders represent an process that gives specific instructions for purchasing different resources.it is well-defined purchase order process. purchase order management policies are created to ensure employees follow standard operating procedures for this process.
PO Management covers areas including:
- Order Tracking and Modification
- Purchase Order Creation
- Logistics Management
- Demand Monitoring
- Inventory and Stocktaking Monitoring and Reporting,
- Multiple Warehouse Integration
- Multiple Currency Use
- Costs Management
- Purchase Order Monitoring
- Vendor Compliance
- Product Collection and Booking
- Consolidation and Custom Loading
- Real-Time Data
- Upstream System Tracking
- Order Management Bookings
- Origin Pre-Distribution programs
For further reading : http://www.pomanagement.com