Purchasing Policy

This document contains four sample policies that establish standards and guidelines an organization should follow during its purchasing cycle.

A purchasing policy focuses on ensuring quality materials, supplies and services are procured by authorized individuals from authorized suppliers with consideration given to the adequacy of quantities, competitive pricing and timely delivery. These business activities should always be conducted in the best interest of the company. The guidelines should also consider and avoid the disruption of business operations due to improper or untimely purchases and the inefficient use of cash caused by excessive purchases.