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Title of Report:Updating of Procurement PolicyCommittee Report Submitted To: Date of Meeting:Finance CommitteeFor Decision or For InformationFor Decision10th October 2024Linkage to Council Strategy Strategic Theme Outcome Lead Officer Procurement Officer Budgetary Considerations Cost of Proposal Included in Current Year Estimates Capital/Revenue Code Staffing Costs Screening Requirements Section 75 Screening Rural Needs Assessment (RNA) Data Protection Impact Assessment (DPIA)N/A YES/NO...
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How to fill out updating of procurement policy

01
Review the current procurement policy to identify areas that need updates.
02
Gather feedback from stakeholders on issues with the existing policy.
03
Research best practices and regulatory requirements related to procurement.
04
Draft proposed changes to the policy, ensuring clarity and compliance.
05
Consult with legal or compliance teams to validate updates.
06
Present the updated policy to management for approval.
07
Communicate the changes to all relevant staff and provide training if necessary.
08
Monitor the implementation of the updated policy and gather feedback for future revisions.

Who needs updating of procurement policy?

01
Procurement teams responsible for purchasing decisions.
02
Compliance officers ensuring adherence to regulations.
03
Management needing to maintain operational efficiency.
04
Financial departments monitoring budget and expenses.
05
External auditors reviewing procurement practices.
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Updating of procurement policy refers to the process of revising and enhancing the guidelines and procedures governing the acquisition of goods and services within an organization to ensure efficiency, compliance with laws, and alignment with organizational objectives.
Typically, procurement officers, managers, or designated personnel within an organization are required to file updates to the procurement policy.
To fill out the updating of procurement policy, one should complete a designated form that may require details such as previous policy references, proposed changes, rationales for updates, and approval signatures from relevant stakeholders.
The purpose of updating the procurement policy is to ensure that the organization's procurement practices remain relevant, effective, and compliant with current laws and regulations, as well as to improve operational efficiency and transparency.
The information that must be reported includes the current policy version, the nature of the updates, rationale for changes, stakeholder input, and any impacts on procurement processes and budgeting.
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