Purchase Order Policy
Purchase Order Policy: Outsourcing and Co-Sourcing Guidelines
Organizations can use the guidelines in this sample policy for purchase order (PO) processing and vendor setup and maintenance. This policy details the procedures for vendor setup and maintenance, purchase order generation, and the resolution of vendor purchase order issues.
According to this policy, appropriate signatures are required on all POs in order to ensure the validation of purchases. All vendor information must be accurately entered into the system, and vendors should be periodically monitored for data precision. Any outstanding vendor issues must be resolved in a timely and appropriate manner. Proper internal controls will be in place to ensure that all PO activities are processed accurately and timely.