Inventory Purchase Approval Workflow

Ensuring sufficient inventory levels is crucial for efficiently procuring goods and materials needed for production or sales. This is handled through the inventory purchase approval processes which becomes an integral part of a business’s growth. The inventory purchase approval process involves the following stages – purchase requisition submissions, stock requirements verification, and getting approvals from procurement and finance teams. Handling these stages manually is highly inefficient and leads to delays, errors, and potential overstocking or stockouts, affecting production and customer satisfaction. This is why businesses need to automate this process to enhance accuracy and optimal inventory management thereby improving overall supply chain operations and cost control.