Procurement Policy

Create and maintain a procurement policy that's tailored to your company's needs.

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About this Procurement policy template

This procurement policy provides a framework for ordering and purchasing work-related equipment for employees of the company. It outlines the types of resources available for use in the workplace and in remote settings, criteria for requesting equipment, the costs associated with each item, and the approval process for requests over a certain monetary amount. Additionally, it outlines the responsibilities of employees for care and use of the equipment and potential consequences for misuse, as well as a BYOD policy and procedures for exceptions.

The template is designed to help organizations create and maintain a procurement policy that is tailored to their needs. It is important to ensure that the policy is regularly reviewed and updated to reflect changes in the organization and its operations.

What is a Procurement policy template?

A Procurement policy template is a document that outlines the procedures and processes for procurement of goods and services. It is designed to ensure that all procurement activities are conducted in an ethical, fair, and transparent manner. The template provides guidance on:

  • What to purchase,
  • When to purchase,
  • Where to purchase,
  • Who is responsible for the purchase,
  • How to document the procurement process,
  • What documentation is required,
  • How to manage the procurement process,

It is important to note that the template should be tailored to the specific needs of the organization.

When to use a Procurement policy template?

A Procurement policy template should be used to ensure that all procurement activities are conducted appropriately. It should be used whenever an organization is carrying out a procurement process, regardless of the size or complexity of the transaction.

The policy should provide guidance on the following topics:

  • Introduction and Scope of the Policy
  • Approval Process and Guidelines
  • Process for requesting Resources/Equipment
  • Ordering, Payment and Shipping
  • Preferred Vendors
  • Exceptions

How to use a Procurement policy template

This procurement policy template offers an example procurement policy that can be used as inspiration for organizations. Read through the template and adjust each section according to your own company’s rules and criteria around the procurement process.

It’s worth revisiting this document on a regular basis to make sure it’s up to date. It should be included in your Company Wiki so all members of the team have easy access to it.

FAQ About the Procurement Policy Template

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