The General Purchasing Procedure outlines the purchasing actions taken for:
Vendor selection for inventory and non-inventory items will be in accordance with the vendor selection procedure. The reorder quantity of standard inventory items will be determined per available stock on hand in conjunction with the requirements to satisfy the monthly sales plan. Each day the inventory file should be reviewed on a line-by-line basis to determine the items that have reached a reorder point.
The procurement 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 procurement procedure 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)
General Purchasing Responsibilities:
All Employees that require a product or service must complete purchase requisitions specifying items for purchase and obtain required approvals.
The Purchasing Manager is responsible for using good procurement methods, optimizing price savings, quality or value of products, vendor working relationships, assuring proper inventory control and inspections, maintaining raw material inventories, placing orders with approved suppliers, negotiating pricing with suppliers, and forwarding all paperwork to the Accounting Manager for payment.
The Accounting Manager and Accounts Payable are responsible for payment of procurement invoices only after satisfactory completion or delivery of goods or services has been made.
The Receiving Manager and Warehouse Personnel are responsible for receiving, inspecting materials, and forwarding all paperwork to the Purchasing Manager.
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