Ethics in buying
The word 'ethics' is derived from the Latin word 'ethicus' and the Greek word 'ethikos,' meaning character or manners. This meaning can also be extended to imply systematizing, defending and recommending concepts of right and wrong behavior. Ethics is thus said to be the science of morals, moral principles, and recognized rules of conduct.
Since the purchasing department deals with large sums of money, purchasing personnel may in some cases, take part in unethical and illegal activities such as manipulating quotations, fixing prices, favoring a specific supplier while placing an order, altering a product sample with the intention of getting approval for a substandard item, and so on.
As a part of relationship building, vendors give purchasing personnel gifts like free lunches, liquor, stays at holiday resorts, and so on. While this is a normal practice, organizations must state the type of gifts purchasing personnel are permitted to accept and draw a line beyond which accepting gifts is considered unethical.
Most organizations develop a set of rules and guidelines to ensure that their purchasing personnel conduct business in an ethical manner. Some of these rules are given below:
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The organization's interest should be kept in mind while purchasing.
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No undue favor should be taken from or given to suppliers. Selection of suppliers should be based solely on merit.
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All purchasing activities should be conducted honestly and truthfully.
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All purchasing commitments (payments of bills, etc) should be completed on time.
Organizations can reduce the temptation to adopt unethical practices by compensating employees suitably.
They should also have a comprehensive policy concerning ethics, which should be communicated to all the concerned persons in the purchasing department. The purchase department should also hold regular discussions on ethical behavior and ethical issues.
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