Introduction
This Purchasing and Procurement Policy outlines the principles and procedures for acquiring goods and services required by Azinq. This policy aims to ensure efficient, ethical, and responsible procurement practices that align with our company values.
Objectives
- Value for Money: Obtain goods and services at competitive prices that meet our quality and performance requirements.
- Efficiency: Streamline the procurement process to minimise costs and time.
- Transparency: Ensure a fair and transparent procurement process for all potential suppliers.
- Sustainability: Prioritise responsible sourcing practices that consider social, environmental, and ethical factors.
- Compliance: Adhere to all applicable laws and regulations related to procurement.
Responsibly Sourced Products and Services
Azinq is committed to responsible sourcing practices. We consider the following factors when evaluating potential suppliers:
- Labour Practices: Suppliers should uphold fair labour practices, including respecting workers’ rights, providing safe working conditions, and avoiding child or forced labor.
- Environmental Impact: We consider the environmental impact of products and services throughout their lifecycle. We encourage suppliers to prioritise sustainable practices and minimise their environmental footprint.
- Business Ethics: We partner with suppliers who demonstrate ethical business practices, including transparency, integrity, and anti-corruption measures.
- Diversity and Inclusion: We strive to support diverse suppliers and promote inclusion within our supply chain.
Procurement Process
- Needs Assessment: Departments will clearly define their needs for goods or services, specifying technical requirements, quantity, and budget.
- Supplier Selection: A competitive bidding process will be conducted whenever feasible. Selection criteria will include price, quality, qualifications, past performance, and responsible sourcing practices.
- Contract Negotiation: Clear and detailed contracts will be established with chosen suppliers, outlining terms and conditions, pricing, delivery schedules, and responsible sourcing expectations.
- Order Processing: Purchase orders will be issued following proper approvals and adherence to budget limitations.
- Delivery and Inspection: Goods and services will be inspected upon delivery to ensure they meet the agreed-upon specifications and quality standards.
- Payment: Invoices will be reviewed and processed for timely payment according to contracted terms.
Supplier Management
Azinq maintains positive relationships with our suppliers. We will:
- Conduct periodic performance evaluations to assess supplier compliance with this policy and contract terms.
- Communicate openly with suppliers regarding expectations and address any concerns promptly.
- Collaborate with suppliers to explore opportunities for continuous improvement in responsible sourcing practices.
Training and Awareness
Employees involved in the purchasing and procurement process will receive training on this policy and responsible sourcing practices.
Policy Review
This policy will be reviewed periodically and updated as needed to reflect changes in business needs, legislation, and responsible sourcing best practices.
Reporting and Violations
Employees are encouraged to report any suspected violations of this policy to the appropriate management level. All reported violations will be investigated and addressed confidentially.
Conclusion
By implementing this Purchasing and Procurement Policy, Azinq aims to achieve a balance between obtaining the best value for our needs and upholding responsible sourcing practices. We are committed to conducting business ethically and contributing to a more sustainable future.
