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In: Accounting

What are the names of two documents that contain information on negotiated cost of supply and...

What are the names of two documents that contain information on negotiated cost of supply and other contractual arrangements between your organisation and preferred suppliers?
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Q2: Describe the difference between an order form and an internal requisition form.
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Expert Solution

Question - What are the names of two documents that contain information on negotiated cost of supply and other contractual arrengements between your organisation and preffered supplies? Ans --Your negotiation document specifies the details of the negotiation for potential suppliers. While being developed, your document can be stored as a draft until you're ready to publish it.

There are several way you can create the negotiation document. There are also tools to help simplify the creation process.

  • You can use a negotiation style to control the look of the document and the features available. A style is a good way to create a streamlined negotiation.

  • You can use a negotiation template to create a base negotiation document containing much of the line and supplier-related information. Once you have a template defined, you can reuse it without having to reenter negotiation information. You must have access to the Procurement Business Unit for this the template was defined to access it.

  • You can use requisitions in Purchasing to create a negotiation document. When you use this method, the requisition information is used to create the negotiation lines.

If you create your negotiation from scratch, as you create your negotiation, a series of train stops appear. These identify major sections of the negotiation document for which you may need to enter information, depending on the goal of the negotiation. The following descriptions describe the purpose for each negotiation section. Note that depending on which negotiation style you're using, one or more of the sections may not be available for use and so may not appear among the train stops.

Question - Describe the difference between an order form and internal requisition form?

Ans --A purchase requisition is an internal document in which one department is asking another department for permission to buy goods or services. A purchase order is created after the requisition and is a document that is used to actually purchase those goods or services from an outside vendor.

Purchase requisitions are more interdepartmental forms that allow larger organizations to handle their accounting and finances better. The bigger the business, the more the need for a procurement process. You simply cannot track the flow without putting it on paper.


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