What is the terminology used in good receipt note system – process | stock | level
What is the terminology used in good receipt note system?
1. Purchase order: A purchase order is a document that is used to request goods or services from a supplier. It includes details such as the items being ordered, the quantities, and the agreed-upon price.
2. Goods receipt: The process of receiving goods from a supplier and checking them for quality and quantity against the purchase order.
3. Receive note: A document that is used to document the receipt of goods from a supplier. It includes details such as the supplier, the goods received, and any discrepancies identified during the goods receipt process.
4. Invoice verification: The process of comparing the invoice from the supplier with the purchase order and receive note to ensure that the goods and prices match.
5. Stock update: The process of updating the stock levels in the inventory system to reflect the receipt of goods.
6. Supplier: A company or individual that provides goods or services to another company.
7. Quality: The degree to which the goods meet the required standards.
8. Quantity: The amount of goods received.
9. Discrepancy: Any difference between the expected quality or quantity of goods and the actual quality or quantity received.
10. Inventory: A list of goods and materials that a company has in stock.