After satisfactory quality inspections, the due payments are made to the vendor(s) and terms are sent to the warehouse or store of the company for storage purposes from where they are ready for issue to the user department. Once the material reaches in the stores, it can be issued to any user department through a laid down stores systems and procedures.
Before going into the details of stores, we will see all the stages of materials purchase system in nutshell. As mentioned earlier, all the stages of materials purchase system form a cycle called "material procurement cycle". Figure shows this material procurement cycle initiating from indent of material to issue of items.
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| Material Procurement Cycle |
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