This manual summarizes the Stevens Procurement Policy and highlights the administrative processes relating to procurement and the procedures that should be used throughout Stevens.
The Procurement Department’s goal is to procure goods and services that meet the University’s needs, in a timely, efficient, and cost effective manner. The Procurement Department fulfills this responsibility by:
assisting the Stevens community with the identification, selection and acquisition of required goods and services.
educating the community about "best procurement practices," maintaining Stevens’ procurement systems, and enforcing its policies and procedures.
acquiring goods and services as economically as possible, within acceptable standards of quality and service, while utilizing professional ethics and our best business practices.
selecting the vendor to be used, considering delivered cost, quality required, vendor capability, vendor service record and delivery dates.
maintaining a consistent and fair policy toward the entire business community, while maximizing the opportunity for small business participation.
ensuring compliance with all Stevens Procurement policies as well as Federal and State procurement regulations.
The services of the Procurement department include providing product and supplier information, pricing, competitive bidding, issuing sales tax exempt forms, issuing purchase orders, and providing contract negotiation services for the procurement of goods and services required by Stevens.
Code of Ethics/Conflict of Interest
Requisitioning is the process of requesting goods or services for business purposes. The Requisition should be completed on line through the Kuali Financial System (KFS).
The objectives of a purchase requisition is to enable the timely and efficient request of goods and services to support academic and operational services and to trigger an electronic release process for the creation and appropriate approval of the purchase request.
Completing a Requisition
Stevens’ departments are responsible for initiating a Purchase Requisition. The departmental buyer will complete the purchase requisition with the item description and the appropriate KFS account number. All requisitions must give a complete description of goods or services required and reference the proposal or quoted prices from the vendor. Failure to comply will result in return of requisition to originating department for completion. Additional information regarding creating requisitions can be found here.
The proper approval depends on the area initiating the requisition and the dollar amount to be expended. All purchase requisitions require approval of the fiscal officer, and in some cases the Department Head and/or the Office of Sponsored Programs.
The requisitioner is responsible to ensure that there are sufficient funds for the purchase. An item's purchase that would put an account over budget is considered an insufficient funds item and requires the Budget Director's approval.
Procurement Department Responsibilities
The Procurement Department is responsible for obtaining the best value given the parameters specified on the purchase requisition. Parameters include the requisitioner's choice of supplier, terms of delivery, and material specifications. The Procurement Department will make every effort to satisfy the requisitioner's choices, however, the Procurement Department will have the final decision on the appropriate vendor for the purchase. The purchase requisition will be reviewed by Procurement Department personnel for completeness and proper approvals. If the purchase requisition passes review, the Procurement Department will approve the purchase requisition.
Purchase Orders General
A purchase order is a formal request to a vendor for the supply of a good or service. A Purchase Order may only be issued by the Procurement Department.
Purchase Order Processing
Purchase order processing includes creation, change, deletion and approval of purchase orders in KFS.
The objectives of purchase order processing are to:
Convert approved purchase requisitions into purchase orders in a timely, efficient and accurate manner.
Reference agreements or contracts where possible.
Reference required quotations.
Ensure on-line approval of purchase orders.
Ensure Stevens Procurement Terms and Conditions are clearly communicated.
Purchase Order Approval
The Procurement Department has the authority to enter into a purchase agreement to obligate Stevens. A purchase order constitutes a contract that is binding for both Stevens and the vendor. Some vendors may also require accompanying terms, conditions, agreements or forms. All documents without authorized approvals will be considered invalid and not binding.
Stevens is a tax exempt organization. It is important that each purchase order have the appropriate documentation and notation. Upon request, the Procurement Department will furnish the appropriate copies of Stevens’ tax exemption certificates with the purchase order.
Purchasing Card (Pcard)
Please see: Purchasing Card Guidelines.
If you have any questions regarding the program, please contact the PCard Administrator: firstname.lastname@example.org
Stevens requires competitive bidding and documentation for every purchase order $10,000 and greater. The Procurement Department reserves the right to obtain competitive quotations regardless of dollar value whenever, in its judgment, the quotations may best serve the interest of Stevens. Departmental buyers should ensure advantageous pricing by soliciting bids from a minimum of three vendors.
NON-COMPETITIVE VENDOR SELECTION
Occasionally, a departmental buyer is unable or chooses not to competitively bid the goods or services. These situations involve a sole source. A sole source is when the buyer chooses a particular vendor because of technical requirements (precision, reliability) or past performance by other vendors (poor service, availability of parts), or no other vendor capable of fully meeting the requirements exists. Sole sources should be the exception, not the rule.
Competitive bidding through an RFP process is an invitation to a vendor to submit a bid indicating the pricing terms for the supply of a material or the provision of a service. The RFP specifies the goods or services, quantity, delivery date and the bid submission deadline. The objectives of RFPs is to obtain bids from vendors for the supply of goods or services valued at over $10,000.
The competitive bid process provides comparative pricing. This will enable procurement staff, in conjunction with the department, to select goods or services that will provide the best value for Stevens. This should include documentation that verifies that all purchase prices are fair and reasonable. Documentation can be based on of previous and similar purchases, current prices lists, and vendor agreements.
Federal Procurement Guidelines
The Procurement Department must review all purchases made with contract funds and grant funds to ensure that they comply with the Federal Acquisition Regulation and the Office of Management and Budget Circular A-110. In addition, contract funds and grant funds procurement decisions must be made with respect to the bidding requirements outlined above. As part of the Federal guidelines the Procurement Department is required to retain all supporting documentation for purchases made with Federal funds to support Federal/internal/external audits. This may include purchase orders, invoices, competitive quotes, and cost/price analysis.
Any questions regarding Federal procurement regulations should be directed to the Office of Sponsored Programs.
Procurement decisions made with contract funds are required to adhere to the Federal Acquisition Regulation (FAR).
Procurement decisions made with grant funds are required to adhere to OMB Circular A-110. This circular provides the procurement standards to ensure that goods and services are obtained in an effective manner and in compliance with the provisions of applicable Federal statutes and executive orders.