Purchase Approval is the process of authorizing the purchase of goods or services. It is an important step in the procurement process and involves the review and authorization of a purchase request by an authorized person. The purpose of Purchase Approval is to ensure that the purchase is in line with the company’s purchasing policies and procedures, and that the goods or services being purchased are of the highest quality and best value for money. It also helps to ensure that the purchase is in line with the company’s budget and financial goals.
The process of Purchase Approval typically involves a review of the purchase request, the vendor’s credentials, and the terms and conditions of the purchase. Once the purchase is approved, the order is placed and the goods or services are delivered.
Purchase Approval is an important part of the procurement process and helps to ensure that the company is making the best possible decisions when it comes to purchasing goods and services.