Procurement 104 – Buying Channels and Payments


Episode 104 introduces the concepts and differences between buying channels and payments options.

I address the different ways suppliers can be paid:

  • ACH
  • Physical Checks
  • Wire Transfers
  • Credit Cards
  • Third Party Payment Companies
  • Supply Chain Financing

Then I shift into how suppliers can submit invoices… buying channels. I cover the differences between:

  • Manual Invoice Processing
  • Purchase Orders
  • Invoice Against Contract
  • Catalogs
  • Spot Buying

This video lays a good foundation on how and why companies pay suppliers in different ways.

Script/Notes of this video (click here)

Photo by Avery Evans on Unsplash