Introduction to Principles of Purchasing
Principles of Purchasing: Introduction
Purchasing is commonly undervalued as a back-room function but it has an increasingly critical role in terms of safety and quality control and the avoidance of legal liability.
Because the purchase of stock and routine materials is so frequent, it is usually appropriate to develop standard purchase documentation. This may well be the only documentation which you use to buy goods or services from a particular seller. Alternatively, you may use standard purchase documentation to govern individual consignments under a continuing supply contract.
Making a purchasing commitment is only the beginning. Things can go wrong or requirements may change and the actions of the purchasing department will be important in ensuring that agreements are varied or terminated on the most favourable basis.