About Purchasing and Procurement

Purchasing and procurement involves the process of selecting suppliers, establishing payment terms, vetting, negotiating contracts and acquiring goods.

There is no one best way to conduct purchasing and procurement, as the best approach depends on the organization’s size, structure, and culture. However, there are some best practices that an organization should follow which are summarized below.

It is a critical function that helps businesses get the best value for their money and ensure that they are getting the products and services they need. Getting it right when you are acquiring goods and services means you will be saving money and increasing profit margins.

The Purchasing and Procurement Process

The purchasing and procurement process can be prolonged and at times a complex one. Several steps need to be followed to ensure that all the necessary paperwork is completed and that a purchase is made efficiently. To streamline a strategic process, it is important to have a proactive approach and a clear understanding of the different steps involved.

Typically, the procurement practices required to ensure that purchased products conform to specified requirements include:

                                 A Purchasing and Procurement Process

• Planning and budgeting.
• Identifying suppliers.
• Purchase requisitions, quotes and vendor relationships.
• Evaluating quotes and procuring pay cycles.
• Selecting a supplier or party vendor.
• Negotiating the terms and the payment process.
• Placing a purchase order and the process of purchasing.
• Customer satisfaction and continuous improvement parameters.
• Quality assurance specifications when acquiring goods and services.
• Arranging payment and product inspections.
• The potential consequences of a non-conforming product or service being delivered.

Note: Purchasing and procurement activities are vital functions for any organization, both large and small businesses. An effective purchasing and procurement procedure can help an organization save money, time and resources.

Why it is So Important to Get Purchasing and Procurement Right

The purchasing and procurement cycle is extremely important for any business because it ensures that you are getting the best possible price for the products and services. Purchasing and procurement also help a business save money. By contract negotiation and working with suppliers, businesses can get the best possible prices for their products and services.

Purchasing and procurement can also help the procurement team with their long term corporate strategy to manage risks, by carefully selecting suppliers and products, businesses can minimize the risks of disruptions to their operations. In short, an effective procurement process helps save money, manage risks, and ensure that you get the products and services needed as quickly as possible.

Contents of this AS/NZS ISO 9001 Purchasing and Procurement Procedure

• Approval.
• Purpose.
• Scope.
• Terms and Definitions.
• Roles and Responsibilities
• Procedures.
• The Purchasing and Procurement Process.
• Purchasing and Procurement Process Flow.
• Control of Suppliers.
• Selecting a List of Suppliers.
• Supplier Performance.
• Control of Purchasing and Procurement Practices.
• Purchasing Information.
• Verification of Purchased Products.
• Supplier Returns.
• Review.
• Related Procedures, Forms and Documents.
• Review Criteria.
• Record Management.
• References.

Why Choose to Buy this AS/NZS ISO 9001 Purchasing and Procurement Procedure?

This 9-page AS/NZS ISO 9001 purchasing and procurement procedure can assist you define the processes required to ensure that purchased products and received materials conform to specified requirements by detailing:

• Selection, evaluation and re-evaluation processes.
• Potential suppliers and supplied material or product quality requirements.
• Purchasing requirements with supply chains and meeting all requirements of the AS/NZS ISO 9001 quality management system standard purchasing processes.
• The potential consequences of a non-conforming product or service being delivered and the corrective actions that need to be taken.

After purchasing this AS/NZS ISO 9001 purchasing and procurement procedure you will be able to:

• Very easily edit and customize the template to create your own purchasing and procurement procedure.
• Apply your own style, format and brand to the procedure.
• Use it in any industry or sector regardless of the size or type of organization.

Availability and Use of this AS/NZS ISO 9001 Purchasing and Procurement Procedure

• This purchasing and procurement management procedure is accessible to you right now by clicking the ‘Buy Now’ button.
• The procedure will be delivered to you in fully editable Microsoft Word format for immediate and full use in your business.
• There are no subscriptions, contracts or ongoing costs.

This AS/NZS ISO 9001 purchasing and procurement procedure is 100% satisfaction guaranteed.

You may also require:

• Purchase Checklist
• Supplier Evaluation Form
• Approved Supplier Register
• Customer Satisfaction Procedure
• Contractor Prequalification Form
• AS/NZS ISO 9001 Quality Management System with Procedures