Production and research and development of roll grinding machines
One of the earliest domestic enterprises to develop and manufacture roll grinding machines.
One of the earliest domestic enterprises to develop and manufacture roll grinding machines.
Standardizing Procurement Management Processes to Help Enterprises Reduce Costs and Improve Efficiency—A Report on the “Procurement Management” Pre-IPO Preparations of Guiyang Xianfeng Machine Tool Co., Ltd.
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2023-09-08
Since April 2022, Guiyang Xianfeng Machine Tool Co., Ltd. (hereinafter referred to as “Guiyang Xianfeng”) has officially launched the process of listing and going public. In this process, standardized internal control management is extremely important and necessary. Due to historical issues left over from the past, many people have had a hard time standardizing internal control management at Guiyang Xianfeng. However, all the cadres and employees of Guiyang Xianfeng have remained united and worked together with one heart and one mind, tackling one seemingly impossible problem after another.
An important component of standardized internal control management within enterprises is the procurement management of materials. Whether procurement management is reasonable and scientific is directly linked to cost control within the enterprise, and it is also closely related to the enterprise’s survival and development—serving as a prerequisite for ensuring the orderly conduct of production activities. Therefore, during production and operations, enterprises must place great emphasis on the procurement process, clearly define procurement principles, set procurement targets appropriately, and, based on an analysis of the enterprise’s current situation and needs, adopt targeted measures from various perspectives to optimize and standardize the procurement process. This will enhance the enterprise’s cost management capabilities and lay a solid foundation for its long-term development.
To promote standardized procurement management, meet production and operational needs, and prevent procurement risks, Guiyang Xianfeng has unified the thinking and understanding of its entire management team, ensuring that everyone acts in concert. The company links the soundness of its procurement process management closely with cost management and with the goals of reducing costs and improving efficiency. It was identified that Guiyang Xianfeng’s early procurement management system lacked sufficient soundness, leading to issues such as irregular and inconsistent amounts for sporadic purchases, unclear designation of procurement management units, a single-level approval process for procurement amounts, and ambiguity regarding the urgency of procurement needs. In accordance with relevant laws, regulations, and administrative provisions, and taking into account the actual production and operational conditions of Guiyang Xianfeng, we will establish a procurement system that is tailored to our own needs, standardize procurement procedures, and revise and reissue the new Procurement Management Measures.
The picture shows Guiyang Xianfeng Procurement Management Mind Map
The new procurement management measures for Guiyang Xianfeng consist of a total of twelve chapters. 74 Article: New Procurement Management Measures Clear of Relevant Departmental authority and responsibilities, ensuring that the entire procurement process is conducted in a systematic and orderly manner; strengthen of Management of the procurement process, including approval, execution, inspection, and distribution of procurement requirements; Established Supplier assessment mechanism: Regularly analyze and evaluate suppliers. and A scientifically sound procurement performance evaluation system, with regular assessments. Relevant Personnel, improve procurement efficiency The newly issued Procurement Management Measures, once officially implemented, will help mitigate procurement management risks and also promote high-quality, on-time production and operations at Guiyang Xianfeng.
Procurement management, as one of the important means for enterprises to enhance economic efficiency and competitive market power, plays a crucial role in enterprises. Internal control The strategic importance of management is increasingly attracting close attention from businesses. Currently, Guiyang Xianfeng is in a critical phase of the pre-IPO shareholding reform. All departments and units throughout the factory are... Timely In accordance with the new procurement management regulations. Procurement Work Thus, comprehensively enhancing enterprise competitiveness. To help Guiyang Xianfeng achieve its IPO goal at an early date.
Source: Party and Government Office
Editor of this edition｜Chen Yiting
Editor-in-charge: Xia Tailian, Jiang Yifan
Final Review | Wu Suping
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