DOCUMENT NO: KK-WV-8.00
The purpose of our Procurement Policy is to provide fairness and transparency in the process of procurement and awarding of tenders, as far as possible with the ultimate objectives of procuring the required quantity/quality of goods at the most competitive price.
General Objectives
- To demonstrate integrity in the sourcing of all incoming material
- To ensure the business has sufficient resources of the right quality to operate effectively.
- To ensure that items of the chosen qualities and quantities are purchased consistently.
- To develop reliable and responsible sources of supply from a sufficient number of suitable suppliers.
- To constantly work towards developing good long-term relationships with suppliers.
- To engage, train and motivate high quality personnel dedicated to the achievement of Kakuzi PLC wider interests.
- To keep up to date with market intelligence from every source of reliable origin to ensure that Kakuzi Plc are buying their goods competitively.
- To create and revise policies, systems and procedures to ensure the realization of the above-mentioned objectives.
Principles
While it is Kakuzi PLC's intention to follow procurement practices that should achieve value for money, based on whole life cost and quality of the procured goods. It also accepts the responsibility to ensure that its procurement policy supports the overall macro-economic objectives of Government.
Kakuzi PLC subscribes to the following principles in implementing the aforementioned procurement objectives:
- Sustainability and environmental responsibility.
- The need for value for money and consistency of products supplied.
- Financial control and accountability maintained through comprehensive auditing.
- Fairness, competitiveness, transparency and cost effectiveness when assessing tenders for goods.
- The need for suppliers of Kakuzi procurement needs to be reliable, in good standing insofar as their tax and compliance obligations are concerned and that they follow and practice sound environmental policies as well as labour equity practices
TENDER PROCEDURE
In the procurement process for goods, Kakuzi applies a tender process comprising of;
- A pre-qualification process every three years
- Budgets done and approved
- Invitation for bid from at least three pre-qualified suppliers
- A tender committee meets to conduct a financial and technical evaluation
- Awarding of the tender to the winning bidder
Revision Date: November 2020 || Approved by MD || Revision No. 00/2020
