We are purchase and inventory team this week! So what’s the procurement process in our company? Before we going to make an order, we should collect all the purchase requirements in a certain time, and in a ERP system, we collect the material (Master Data). We do this to make our purchase order effectively. Then if we do not have vendor, we should take times to do the vendor selection (Receive different quotations and pick up one to several vendors). Now we can make purchase order. Our system would remind us purchase team of goods shipping time and amount in case of some special situation. After this, purchase team job done. Inventory team goes on with Good receipt, which has Financial Impact (Assets increase) and Material Impact(Inventory increase). Next, we process our invoice verification. We need to check our purchase order, master data of materials. Last, we make the payment and trigger the financial impact (Cash decrease). Inventory team now can go home and play video game.