Procure to Pay Process

This course provides an in-depth understanding of the Procure to Pay (P2P) process, which is the series of steps involved in the procurement of goods and services from a company’s suppliers. The course covers the key activities and components of the P2P process, including supplier selection, purchase order creation, goods receipt and inspection, invoice processing, and payment. The course also covers the role of technology in streamlining the P2P process and improving supplier relationships.

Course Outline:

1. Introduction to Procure to Pay Processes

• Definition and Overview of P2P Process
• Key Components of P2P Process
• Importance of Efficient P2P Process

1. Supplier Selection and Management

• Supplier Evaluation and Selection
• Contract Management and Negotiation
• Supplier Relationship Management (SRM)

1. Purchase Order Creation and Management

• Purchase Requisition and Approval
• Purchase Order Creation and Processing
• Purchase Order Monitoring and Control

1. Goods Receipt and Inspection

• Goods Receipt and Acceptance
• Inspection and Quality Control
• Receiving and Handling Damaged Goods

1. Invoice Processing and Approval

• Invoice Receipt and Review
• Invoice Matching and Approval
• Invoice Dispute Resolution

1. Payment Processing and Control

• Payment Authorization and Approval
• Payment Scheduling and Execution
• Payment Reconciliation and Reporting

1. Technology and Automation in P2P Processes

• P2P Process Automation and Integration
• Supplier Relationship Management (SRM) Systems
• Enterprise Resource Planning (ERP) Systems

Prerequisites:

• Basic understanding of business operations and accounting principles.
• Familiarity with procurement and supplier management concepts.

Recommended Textbook:

• “Procure-to-Pay Process: Guide to Efficient and Effective Purchase, Pay, and Supplier Management” by Srinivasan Ramakrishnan.

Assessment:

• Midterm Exam (30%)
• Final Exam (40%)
• P2P Process Analysis and Improvement Project (30%)

Note: The course syllabus and assessment methods are subject to change based on instructor’s discretion.