A Goods Acceptance occurs at what stage of the procurement process?

A Goods Acceptance takes place during the procurement process after the goods have been delivered and inspected by the receiving entity. This critical stage ensures that the items received meet the required specifications and quality standards before being officially accepted. Acceptance confirms that the goods fulfill the terms of the contract, allowing for subsequent processing, such as payment to the vendor.

Before acceptance, other stages like placing a purchase order, shipping, and receiving the goods occur. However, it is only after the inspection has taken place that the goods can be formally accepted. This process protects organizations from accepting subpar products and ensures accountability in the procurement process. Thus, the correct timing for Goods Acceptance is indeed after the goods have been inspected and approved.