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policies & practices
Significant policies and practices you should know:
- Company policy prohibits employees or their relatives from accepting gifts, favors, or gratuities from any existing or potential vendors or others doing business with the company. No employee in the Purchasing department nor anyone with authority to review or approve a purchasing decision shall have any ownership or beneficial interest in vendors who do business with the company, except in accordance with company policy governing conflicts of interest.
- Procurements will ordinarily be carried out through formal competitive bids or proposals. However, if an immediate purchase is required, or the item or service is of a relatively low dollar value, informal bids or proposals may be solicited. Negotiations with a vendor occur when bids or proposals do not produce an acceptable result.
- There is a vendor qualification process before vendors are included on bid lists for repetitive commodities.
- The company may, upon notice to vendors, evaluate pricing upward or downward based on vendor capability and past performance.
- Awards may be split among two or more acceptable vendors to help establish future competition or to assure adequate supply.
- The company may at its discretion reject any and all bids or proposals in any procurement.
- The company is committed to the development of its Supplier Diversity. To support
this program, awards or portions of awards may be made to diverse firms whose bid price exceeds the lowest bid.
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