Hindustan Coca-Cola Beverages Pvt Ltd.

PRODUCT

IntroductionFor the functioning of the Purchasing and

Accounts Payables function.

It is prepared to provide information and direction.

It is useful for the purchasing and related activity.

Issuing this policy is to ensure that purchases are made as per the Agreement between the Company & Suppliers.

The goods are purchased from vendors at competitive terms and in timely manner.

This policy is allowed only to the approval of CFO/ Finance Controller of the company.

There are two categories of PurchasesCorporate Purchase items : it includes Sugar,

Pulp, Crown etc.

Requesting Department

Prepare Purchase requisitions in timely manner.

Allocate applicable department on PR.

Obtain appropriate approvals on PR.

Identification of potential vendors.

Procurement DepartmentPR help in purchases of raw material based

on production plan.Obtain and evaluate quotations from vendors

as per the bidding procedures.Track of Market Price of Various Raw and

Packing Materials.Negotiate prices and other terms of

purchase.Prepare purchase order

Obtain approvals per COA.Co-ordinate with vendors for logisticsVendor performance over time.Ensure COA compliance for all vendor

advance request

Finance DepartmentVerify & update the vendor details.Approve PR, and check for budget and

accounting code.Authorize PO’s at unitsPerform three way match and invoice

processingCarry out periodic accounts Reconciliation

with the vendors

Ensure payments are made to vendors on time as per terms of the purchase order

Ensure COA compliance before disbursements and granting advances

Carry out periodic Bank ReconciliationEnsure follow up for timely recovery of

advances paid to vendorsEnsuring database of all contracts is

maintained and commitment amounts calculated

Stores DepartmentReceive goods and prepare GRN’s

Co-ordinate with the user/quality department for inspection of materials

Ensure check of quantity of materials received

Update store records for quantity

Quality Assurance DepartmentCheck quality as per IPQP(Incoming Package

Quality Plan) policy

Approve material or reject the material

Security Department Carry out a preliminary inspection of

vehicles.

Inform stores the arrival of vehicles.

Ensure proper weighment of the goods received as per the laid out procedure.

Legal DepartmentVetting of standard terms and conditions on

the P.O.

Ensure standardize agreement for contracts

Treasury Department It is useful for the cash flow

Generate Purchase Requisition