Procurement policies offer the framework of purchasing – the who, what, where, and when elements. A good Procurement policy covers:
- roles and responsibilities
- equal opportunity & social responsibility
- best value
- risk management
- project management
- contract management
- performance monitoring
Procurement policy should not be confused with strategy or procedures. Purchasing strategy outlines the overall governing entity direction for procurement, while Purchasing procedures set out how the series of tasks should be carried out.
If you are pondering drafting a Procurement policy, there are many simple procurement policy samples and templates are available on the web. More pointers for a basic procurement policy skeleton can be found here, on Bizfluent’s resource site.
Vendor Program Manager
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