How to prepare a report in Purchasing?

Reports are made up of historical data to give a summary of the work performed and to make projections for the future. Enables comparison of past jobs with today and helps you avoid duplication of past errors.

They play an important role in increasing performance and productivity. Purchasing is one of the units that requires reports the most. Reports created to benchmark historical data help deliver highly effective results with good analysis. Purchasing reports are shaped according to the needs of businesses. There are many methods of purchase reporting. Creating a purchasing report based on your needs will make it easier for you to manage your company's future goals.

How to prepare a report in Purchasing?

In general, sales for the previous period are collected and divided according to future periods in a purchasing report. Almost the same can be said for financial reports. If an example is required;

Considering that 200 products were sold in the last two months, how many products would be needed for the following month? raises questions.

200/60 = 3.33 day requirement.

3.33* 7 = corresponding to a requirement of 23.31 weeks.

3.33*30 = 99.9 months of need.

You can find daily, weekly and monthly needs based on this calculation. This will be as simple and convenient as possible. You will need to consider the seasonal conditions, past months and seasons in order to have good reporting. Create reports based on this and achieve more accurate results in your projections for the future.

For simple purchases, these reports can fulfill your needs, but you will need to refer to more advanced methods for more complex purchasing applications. Software or programs such as Excel, SAP, ERP support your purchasing operations in addition to enterprise resource planning or tracking. However, no integrity will be available even if each meets your specific needs.

If you can run all these processes from one software, reporting will be simpler for you. All the reports you need are easy to access on one screen.

When you generate reports, the first thing to consider is to detect repetitive purchases. Generate a report of the materials in stock, so that repetitions are avoided. You will need to develop a reporting system where you can access past pricing. You can create reports containing your purchases from past periods. These reports will help you increase your bargaining power and reduce costs.

The essence of all purchasing reports is to compare proposals. Having a report that contains all of the quotes you receive from suppliers will ensure that you agree with the most accurate supplier. You can leverage software such as SmartProcure for quick and easy quotation reports.

Having small details in your reports, such as the currency you use when making your purchases, will be an important detail to reduce cost in your large and costly orders.

Reports where all information can be collected on one screen can be a good start to increase your profit. Do not create order-only reports. You can raise price/quality expectation by creating custom reports based on the supplier. These reports allow you to conduct strategic relationships with your suppliers. You can include material input data in your reports. For example: you can review the materials you use the most or list the suppliers you work with most frequently. Such details will be another way to increase your negotiating power.

SmartProcure is your purchasing software that stands out as your biggest assistant during all of these processes. With SmartProcure, you can create order reports, transformation reports, project reports, supplier reports, material reports and warehouse reports. Choose SmartProcure to increase your reporting and analytics power and start earning!