The importance of periodically reviewing the purchasing policies and procedures. Introduction: Policy statement is a set of methods or behaviors that are accepted in an organization. It would provide a guideline to the employees on the things to do in an organization for a specific purpose, which would stabilize the conduct of every employee.

Question

Why should management periodically review its purchasing policies and procedures?What are the potential consequences if management does not review policies andprocedures? How often do you think it should go through a minor or major set ofrewrites?

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Question

Chapter 3, Problem 3DQ

Summary Introduction

To discuss: The importance of periodically reviewing the purchasing policies and procedures.

Introduction: Policy statement is a set of methods or behaviors that are accepted in an organization. It would provide a guideline to the employees on the things to do in an organization for a specific purpose, which would stabilize the conduct of every employee.

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