A Checklist for a Purchasing-Process Audit

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Performing an internal audit of your company's purchasing process is a key component of maintaining efficient and effective operations in any business. Audits are designed to verify that all aspects of how a business functions are working at optimal efficiency. Resources that may be audited include personnel, equipment, environment or processes.

Process

  • Is the purchasing process efficient?
    How can it be improved?
    Does the organization control its purchasing processes in order to ensure that products comply with all requirements?

Corrective and Preventative Actions

  • How can problems be more effectively solved and/or prevented through better processes?
    Are the criteria for purchasing evaluations well defined and clearly stated?
    If so, are the results of such evaluations being acted on and properly recorded for future reference?

Supplier Reliability

  • Are current suppliers consistently providing products that comply with all requirements?
    Are shipments being received in a timely fashion?
    Are there other vendors who can provide the same quality at cheaper costs?

Risk Management

  • What are the risks involved in the procurement process?
    Has the company established an effective risk-mitigation procedure?
    How can we identify vulnerable aspects of all procurement systems, including corruption of the procurement cycle and supply chains?

References

  • Photo Credit business image by Clark Duffy from Fotolia.com
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