Lake Superior State University
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Section: Business and Support Operations Section Number: 3.20.3
Subject: Bookstore Purchasing Date of Present Issue: 11/29/99
  Date of Previous Issues:
07/75

POLICY:

The Bookstore Manager, Assistant Manager, Pro Shop Manager, and Bookstore Buyer are authorized to purchase all items intended for resale without utilizing the University Purchasing Department. Staff under the supervision of the Bookstore Manager, Assistant Manager, or Pro Shop Manager may also order products for resale as directed by management. The Bookstore Manager is responsible for assignment of buying tasks, staff training, policing of procedural safe guards in the buying, receiving/shipping process, and proper handling of accounts payable and credit requests.

PROCEDURE:

Purchase - Buyer will determine need for product and seek out best vendor to obtain product. Basis will be determined by availability, quality, price, vendor practices and service. A purchase order will be generated via the PRISM software with a system assigned purchase order number by text (TX), trade (TR), or general merchandise (GM) (bookstore only) or as per numeric internal purchase order document. Purchase orders are sent via fax, modem, telephone, US mail or given to the sales representative in person. A copy is kept on file at the appropriate location (bookstore or pro shop). PRISM generated POs will have a receiving document attached.

Receiving - All shipments are signed for and recorded into receiving log by date. Shipments are checked in with quantities, discrepancies, and damages recorded on receiving document (when applicable) or purchase order. This is dated and initialed by store associate. All shipments with damage and/or discrepancies are re-checked by second store associate. All paper work is delivered to Shipping/Receiving Supervisor, or Pro Shop Assistant. Pricing is determined and assigned to store associate.

Audit - Shipping/Receiving Supervisor or Pro Shop Assistant compares receiving documentation with original purchase order and invoice to determine need for follow-up with vendor for possible credit requests or returns. Invoice information is entered into the PRISM system to maintain perpetual inventory (bookstore only). Invoice is prepared for management approval and payment. All invoices are given to management for approval signature and then forwarded to the Business Office for payment. A copy of the invoice plus all documentation (purchase order, receiving documentation, freight bills, etc.) are kept on file by vendor at the bookstore or pro shop for seven years.

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