CPP-SSP-0101_Procurement_v3

CPP-SSP-0101_Procurement_v3


1. Objective
      To ensure that Infinit-O gets the highest quality of desired goods and services at the best price possible. Further, the provisions are aimed at streamlining the process of procurement while maintaining adequate controls.

2. Scope
      This policy shall apply to all requesting employees, suppliers and third party service providers.

3. Provisions
      3.1. The Procurement Team must present at least three (3) quotations from suppliers except in cases of extreme urgency when the SSP Manager exercises control over the choice of suppliers, specification requirements and verification activities.
      3.2. Comparative is no longer required for recurring purchases such as, Pantry, Office, and cleaning supplies.
      3.3. The Procurement team must be able to source the required item or service within seven (7) business days upon receipt of the purchase request.
      3.4. Department/Vertical who has a purchase request may recommend suppliers that would best fit their requirements.
      3.5. Recommended submission of quotations should be 30 days in advance prior to the date the product and/or service is required. 90 days in advance for subscription/s. There will be exemptions depending on the timing of request.
      3.6. System specifications are given to the vendors who, in turn, submit pricing proposals that will be approved by the IT Head and or CEO.
      3.7. All procurement requests, with all the required specifications, should be filed in the form of Purchase requisition, which shall be approved according to the Approval Matrix to initiate sourcing. A Purchase Order is issued to vendors to formalize the transaction and vendors cover the delivery by a Sales Invoice and Delivery Receipt.
      3.8. On-line procurements and payments are done only with reputable institutions such as banks, government agencies and on-line vendors who have secured sites that will ensure the confidentiality and integrity of sensitive company data. An electronic acknowledgment receipt must cover these on-line transactions.
      3.9. The company credit card shall be utilized for payment of on-line purchases and is used and kept by the VP for Admin and Finance.
      3.10. Delivery is allowed only at the Reception Area of the office. Visitor’s ID provided by the building should be presented upon entry. If the vendor needs to install the item, department representatives should assist the vendor to where the installation will be made.
      3.11. Quality checking of delivered items must always be conducted. Rejects must be returned and the correct number of items received must be duly annotated on the Delivery Receipt.
      3.12. Vendors are evaluated once a year using the following evaluation criteria:
            3.12.1. a. Service Quality
            3.12.2. b. Pricing
            3.12.3. c. On time delivery
            3.12.4. d. Responsiveness
      3.13. Services outsourced by Infinit-O to vendors include, but not limited to the following:
            a. Courier
            b. Repairs and maintenance of office equipment
            c. Housekeeping
      3.14. All client-supplied items that are sent directly to the account handlers and/or team members must be registered with IT and Support Services and Procurement (SSP) Teams for record purposes.

4. Responsibility
      4.1. It is the responsibility of the SSP Manager to approve the selection of suppliers and contractors.
      4.2. It is the responsibility of the Procurement Specialist to source out and procure the items according to specifications and requirements of Infinit-O.
      4.3. It is the responsibility of the Procurement Specialist to track all purchases and implement the asset tagging upon item delivery.
      4.4. It is the responsibility of the Procurement Team to update and maintain the Supplier Master List and conduct Annual Supplier Evaluation.
      4.5. It is the responsibility of the requesting department to submit their recommended vendors to the Procurement Team for supplier accreditation prior dealing.
      4.6. It is the responsibility of the department head to initiate any renewal of subscription/s applicable to their team/s.
      4.7. It is the responsibility of the Procurement Specialist to evaluate proposal based on the predetermined requirement and select the most suitable suppliers
      4.8. The SSP Manager does the final evaluation and reviews the Comparative Analysis.
      4.9. The SSP Manager decides who will be awarded.
      4.10. For IT requests, it is the IT Director that needs to review and affix signatures for approval.
      4.11. The VP for F&A is responsible for the final Purchase Order approval.
      4.12. Procurement Team (For Non-IT Requirements) and IT team (for IT Requirements) is responsible to sign the delivery receipts to check the quality and quantity of the item requested.
      4.13. The Procurement Team is responsible for submitting the invoice to the finance team for payment preparation.
      4.14. The Procurement Specialist records the assets in the Snipe-it system for inventory purposes
      4.15. The procurement team releases the item to the requestor and shall be asked to sign via logbook for record purposes.

5. Asset Tagging
      a. All Infinit-O office equipment must be recorded through the SnipeIT system.
      b. The SnipeIT inventory must consist of the following records:
            1. Company
            2. Serial number (if any)
            3. Item Description (Specifications)
            4. Warranty (if any)
            5. PO number
            6. Purchase date
            7. Vendor
            8. Original Cost
      c. A barcode sticker must be installed in the item before the endorsement.
      d. Client-Supplied Assets
            1. All client-supplied items must have their own asset tag series.
            2. The assigned asset tag is pasted on the subject item before this is released for use.

6. References
      CP-FA-0101 Authority Matrix
      CP-FA-0102 Accounting Policies

7. Records
      Purchase Request Form
      Supplier’s Quotes
      Comparative Analysis
      Purchase Order
      Delivery Receipt
      On-Line Confirmation Receipt
      Sales Invoice

8. Frequency
      a. Procurement - as needed
      b. Asset Tagging - as needed
      c. Supplier Master List review – annually
      d. Supplier Evaluation - annually

9. Distribution
      a. SSP Team
      b. IT Team
      c. Finance & Accounting Team
      d. VPs
      e. Operations Team


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