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- Examples of purchasing procedures include1:
- Petty Cash: Businesses set a limit for petty cash purchases, such as $25 or $100.
- Open Market: Open market purchases do not require a bidding processes, but often need the approval of a purchasing department because the price of the goods is above the petty cash limit.
- Requester Bidding
- Purchasing Department Bidding
- Purchase Requisition
- Identify the Sources of Supply
- Call for Tenders or Quotations
- Analysis of Tenders
- Selection of Right Supplier
- Placing of Purchase Order
- Follow Up of Purchase Order
- Receiving of Materials
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Examples of Purchasing Procedures
- Petty Cash Businesses set a limit for petty cash purchases, such as $25 or $100. ...
bizfluent.com/list-6953039-examples-purchasing-pr…General Purchase Procedure of a Company
- 1. Purchase Requisition Purchase requisition is the basis for placing the purchase order for materials and supplies. ...
- 2. Identify the Sources of Supply ...
- 3. Call for Tenders or Quotations ...
accountlearning.com/general-purchase-procedure-… - People also ask
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Below is a simple outline of Purchasing Procedures, specific policies and procedures are detailed through out the purchasing manual. For detailed instructions of Purchase Order data entry, see appendix.Explore further
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