The procurement process is responsible for spending more than half of most organisations’ total budget, and so it is appropriate that there are controls on the process. One of the most common controls found in procurement is the separation of roles within the procurement process, so that the same person cannot authorise, order, receive and approve an individual transaction. Written policy and procedures detail how the procurement process is to be managed, usually focusing particular attention on higher value acquisitions. Position descriptions define roles and responsibilities, and selection and training ensures that staff are competent in the duties of their post. Approvals ensure that managers maintain supervision of higher value acquisitions, and review processes ensure that compliance with the controls framework allows effective operation. See also Governance and Procurement.
Operational Procurement e-Learning courses are available at Academy of Procurement.« Back to Glossary Index