Purchasing department

The main task of the purchasing department is to acquire the required materials in the right quantity, of the right quality, from the right source, at the right time and at the least possible cost. Materials can be purchased in two ways: centralized or decentralized. In centralized purchasing, the purchasing activity is carried out by a separate department usually known as the purchasing department. It purchases materials in large quantities by grouping orders from all the departments of a firm. In general, larger firms follow the centralized purchasing route, as it results in consistency in buying policies and uniformity in maintaining purchasing records. Also, the buyer maximizes his purchasing power, which helps him obtain large purchase discounts.

In decentralized purchasing, there are no special departments for purchasing. Heads of individual departments undertake the activity of purchasing on the basis of their departmental requirements. This results in greater flexibility in departmental activities, as it is easier for the head of the department to change purchasing preferences rapidly as per the requirements. Some firms hire external specialists, called contract consultants to negotiate purchasing terms and conditions. However, no firm adheres strictly to any one of these approaches and usually follows a mix of the approaches.

The important tasks performed by a purchasing department are: processing the requisitions for materials and supplies from all departments of the organization; identifying and selecting suppliers (or vendors) to obtain the materials required; negotiating with suppliers in relation to purchasing contracts and quantity discounts; inviting bids to acquire certain materials; and evaluating suppliers in terms of their quality and promptness in delivery.              

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