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Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

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Copyright © Texas Education Agency, All rights reserved. Purchasing Overview Materials and products used for Product Production or Resale. Materials and products used for Product Production or Resale. Supplies needed for daily operations. Supplies needed for daily operations. 3

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Page 1: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

1Copyright © Texas Education Agency, 2012. All rights reserved.

Procurement and Inventory Control

Statistics & Risk Management

Page 2: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 3

Purchasing Overview

Materials and products used for Product Production or Resale.

Supplies needed for daily operations.

Page 3: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 4

Vendor Selection

Competitive Pricing & TermsProduct/Service QualityPerformance CriteriaOrder Placement MethodologiesLocation– Shipping Issues– Political Issues

Page 4: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 5

Bid Processes

Private Entity Process–Creating RFP– Evaluating Proposals

Public Entity Process–Often strict laws regulating the process for

both government and vendor employees.

Page 5: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 6

Order Processing

Manual–Vender –Customer Managed

AutomatedMaintain Stock LevelsJust-in-time

Page 6: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 7

Inventory Management

Physical InventoryBook InventoryReconciliation Process

Page 7: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 8

Inventory Evaluation

Itemized (ID or Serial Numbers)LIFO (Last in First Out)FIFO (First In First Out)RDI (Retail Dollar Inventory)

Page 8: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 9

Inventory Control

Minimum Stock LevelMinimum Order SizeReturnsShrinkage - Obsolescence

Page 9: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 10

Inventory Turnover

How many Times a Year.How many Days until Turned Over.Ratios

Why is Turnover Important?

Page 10: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 11

Asset Acquisition

Real Cost of AcquisitionPayback PeriodReturn on InvestmentNet Present Value

Page 11: Copyright © Texas Education Agency, 2012. All rights reserved. Procurement and Inventory Control Statistics & Risk Management 1

Copyright © Texas Education Agency, 2012. All rights reserved. 12

Human Resource

Application-ResumeInterview(s): Phone/OnsiteTestingBackground CheckSelection

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