Things to Consider with a Purchase Order Template
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For any company that's buying a lot of parts for product creation, or goods for resale, a purchase order template can be a great choice. That way, you can create different purchase orders as needed, and for each supplier, but use the same basic template so you don't have to make a new one each time. It's easy and convenient. Here's what to think about for your purchase order needs.
Table of Contents
With a good purchase order template, you can make sure your business is getting what it needs, when it needs it, so it can keep moving forward and meeting customer demand.
Here in this article, we'll address:
- Important Purchase Order Details
- Best Practices for a Purchase Order
- Tips for a Secure Purchase Order
- Key Considerations for Purchase Orders
- Related Sources for More Information
Important Details in a Purchase Order
A purchase order template isn't the same as templates for contracts and agreements. Most purchase orders are relatively simple, in that they don't have a lot of legal language and clauses needed in them. Still, you want your company's purchase orders to follow what's typically standard for the industry, and to be easily readable and understandable by your vendors. The purchase order should include:
- Your Company Information -- Any vendor who gets your purchase order needs to clear on the company it came from.
- Your Vendor's Information -- Making sure the order goes to the right vendor is much easier, when the vendor's information is on the purchase order.
- "Ship To" Information -- You may have more than one location, and your vendor needs to know where the items are being sent.
- Item and Quantity Information -- What you're specifically ordering, and how many of them, are both vital pieces of information.
- Price and Terms -- The cost of the items, when and how they'll be paid for, if there are shipping terms or insurance options, and other details should all by part of your purchase order.
Having details like these in your purchase order template makes it easier for you to remember everything that needs to go into that order, so you don't accidentally leave out important information that could cause problems or delays for your company and your customers.
Best Practices for a Purchase Order
By choosing a quality purchase order template, your company can feel more confident in working with vendors. You'll also reduce the risk for problems such as missed or delayed shipments, incorrect quantities, or items going to the wrong place. Be sure that your purchase order covers:
- The details of your company, the vendor, the items, the price, and the quantity.
- The "ship to" information, even if it's the same as your company information.
- The completed order with everything filled in, to reduce problems.
When you start ordering goods or parts from vendors, the best thing you can do for yourself, the vendor, and your customers, is to make sure you're handling things as smoothly as possible. That's easier with a good purchase order template.
How to Provide a Secure Purchase Order
It's important to have security for your purchase order. You don't want it to get lost somewhere, as that causes delays. You also want to make sure the vendor signs off on it, as acknowledgment that it's been received. One of the easiest ways you can do that is through electronic sending and signing. To keep your purchase order safe, use Nitro Sign for your purchase orders and other important documents. That way, you know everything is signed and sent properly use Nitro Sign for your purchase orders and other important documents.
Key Purchase Order Considerations
A purchase order template is an important way for companies to keep getting the goods they need, whether that's completed goods for shipping or parts to create their own products. When you complete a purchase order, you'll want to think about:
- Adding all the specifics for your company, so the vendor can ship quickly and efficiently.
- Clear details of what you're actually ordering, so you get the right items and quantities.
- Information for any unique requirements, such as shipping insurance, and more.
With a purchase order template, your company can feel confident that they'll more easily handle the details of getting the parts or goods that are needed, in order to keep customers happy.
Related Sources for Information
To learn more about purchase orders, here are a few sources to check out.