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Stock Purchasing Sop

This document describes the procedure when replenishing inventory items

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22 views3 pages

Stock Purchasing Sop

This document describes the procedure when replenishing inventory items

Uploaded by

sgopfa02
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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STORES AND PURCHASING PROCEDURES DATE: 28/06/11

SUBJECT: PURCHASING / ORDERING


PAGE 1

1. PURCHASING / ORDERING

STOCK ITEMS (GOODS HELD IN STOCK)

(1) When a stock re-order level is reached the stores issue clerk will send the bin card
for that particular item to the Storeman for ordering.

(2) The Storeman after vetting will complete (3) copies of a pre-numbered stock
request to purchase voucher.

(3) The document is to be submitted to the buyer.

(4) The stock request to purchase voucher should have the following information

a) Stock code number (commodity)


b) Issue unit (unit of issue)
c) Description of item required
d) Quantity of goods (item) required
e) Suggested supplier
f) Stock code
g) Originators signature
h) Head of department’s signature
SUBJECT: PURCHASING / ORDERING
PAGE 2

(1) On receiving the stock request to purchase voucher the buyer begins sourcing.
Enquiries are then sent to several potential suppliers inviting them to quote. The
buyer mostly uses suppliers from a list approved by the company (reputable
suppliers).

(2) Quotations are then received and summarised. A selection of the best quotation
(supplier) is based on the objectives of a sound purchasing system of right
quantity, right quality, right time, right price and right source.

(3) Negotiations to be done with the chosen suppliers for lower prices.

(7a) An official pre-numbered purchase order is then completed in three copies after
being authorised by the Accountant and Plant Manager and issued to the selected
supplier.

The distribution of the copies is as follows:

i. The top copy to the supplier


ii. The second copy to the stores receiving clerk (awaiting receipt of goods / items).
This same copy is also the accounts copy.
iii. The third is the fast copy (remains in the book)

(7b) All purchase orders to have Three (3) written quotations attached to them, unless
it can be proved that he is a sole supplier.

(8) The purchase order is to have the following information:

a) Description of goods / items with part numbers


b) Quantity ordered
c) The unit price
d) Order date
e) Total price
f) Cost code
g) Name and address of supplier

(9) The buyer then attaches the stock request to purchase voucher or the direct
request to purchase voucher with 3 quotations to the Accountant and Plant
Manager for approval.
STORES AND PURCHASING PROCEDURES DATE: 28/06/11
SUBJECT: PURCHASING / ORDERING
PAGE 3

Once approved the documents shall be sent back to the buyer for distribution. The
buyer to notify (feedback) the head of department of any problems encountered in
the purchasing process that may cause delays.

(10) No goods / items shall be purchased before a proper and official purchase order
has been completed (confirmation order) unless by instruction from the H.O.D. who
should put the instruction in writing. All amendments and cancellations of
purchase orders to be done only in writing.

(11) On imported items the buyer after receiving the stock request to purchase voucher
and the direct request to purchase voucher begins sourcing, sends enquiries to
foreign suppliers and receives quotations. An official pre-numbered purchase
order is then raised, attached with the three selected pro-forma invoices and sent
to the Accountant and Plant Manager for approval. Once approved the buyer will
dispatch them to head office in Harare for payment.

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