Home >
Procure-to-Pay >
Authorized Buying Methods
Use of the University's authorized buying methods enables Purchasing Services to
monitor how we spend our purchasing dollars by commodity and supplier. The ability
to effectively manage University buying power is the critical success factor to
controlling costs. These savings directly impact School and Center operating budgets
and extend the value of our purchasing dollars across the University. All purchase
transactions for products and services from external suppliers are to be processed
in accordance with University
Procurement and Disbursement Financial Policies.
The following resources are available to assist faculty and staff in determining the
appropriate buying method for each transaction and commodity type.
- Buying Decision Chart
The decision chart is indexed by supplier and commodity purchase type and designed
to assist faculty and staff determine the appropriate authorized buying method
for products and services.
- BEN Financials Commodity Matrix
The commodity matrix, indexed by product or service category, references the
appropriate buying method and budget object code for each commodity, and in many
cases, has links to commodity specific information.
- Supplier Selection Guide
The supplier selection guide contains information on how to select a supplier for
a purchase requirement and links to the various approved supplier lists.
At no time is a University faculty or staff member authorized to initiate a
purchase transaction with an external supplier without utilizing one of the
appropriately approved authorized University buying methods.
Faculty and staff are required to use the following authorized buying methods for
their product or service requirement.
Customer service and support resources
are available to assist faculty and staff with all aspects related to the purchase
or supplier selection process.
BEN Buys Purchase Order
The BEN Buys purchasing system is the University's primary
buying method. When using BEN Buys, faculty and staff are required to utilize
preferred contract suppliers and marketplace participating suppliers to satisfy
their purchase requirements.
Integrated into the purchasing system is the Penn Marketplace,
Penn's private supplier exchange. Products from over 175
suppliers are available in the
Penn Marketplace. These suppliers receive over 70% of all University purchase order
transaction. Contract suppliers
enabled in the Penn Marketplace provide most commonly ordered products and services
at negotiated "least total cost". Marketplace suppliers also participate
in the
Supplier
Showcase to promote Penn specific product and pricing promotions.
MasterCard Purchasing Card
The MasterCard Purchasing Card is an authorized buying method
that is to be used for incidental one-time purchases with an aggregate total cost of
$1,000 or less (see supplier and commodity restrictions).
Authorized cardholders are required to purchase all restricted commodities, products
and services from
preferred contract suppliers
and Penn Marketplace suppliers via the
BEN Buys Purchasing System.
Related Links
|
