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Inventory and Supply Purchasing Procedure

The Inventory and Supply Purchasing Procedure is available in the Accounting Policies and Procedures manual.

The Inventory and Supply Purchasing Policy Procedure outlines the actions taken for:

• purchasing of all inventory, supplies and capital equipment;
• continuous analysis of inventory usage and balances in order to minimize investment level;
• completion of related documents.

The purchasing policy involves maintaining investment in your company?s physical inventory at the lowest effective level and supervising according to regulatory and customer contract requirements.

The Inventory and Supply Purchasing policy applies to all inventory, supply and capital equipment purchases and is pertinent to all personnel that require a product or service. (16 pages, 1747 words)

Inventory and Supply Purchasing Activities Covered

• Order Determination and Requisition
• Order Placement
• Recordkeeping and Matching
• Sundry Purchases

Inventory and Supply Purchasing Forms Included

• Purchase Requisition Form
• Purchase Order Form
• Purchase Order Log Form
• Purchase Order Follow-Up Form
• Daily Sundry Payable Form

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