Stock Procurement

Purpose

This SOP ensures a structured, efficient, and transparent vehicle procurement process by standardising sourcing, approval, risk assessment, and documentation, aligning stock purchases with market demand and financial viability, and ensuring vehicles are ready for deployment.

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Procedure

1. Identifying Stock Needs

   1. The Head of Sales identifies the required stock based on market demand and availability.

2. Sourcing and Negotiation

   1. The Procurement Administrator sources stock, negotiates a discounted deal and

      compiles a formal quote to ensure optimal pricing and terms.

3. Risk Assessment

   1. The Head of Risk verifies the Trade and Retail values of the proposed stock ensuring the purchase is financially viable.

4. Approval and Payment process (Four Eyes Policy)

   1. The COO / CEO and CFO reviews the bulk purchase order.

   2. Once approved, the payment is processed by the Finance Administrator.

   3. After payment, the Procurement Administrator must inform the Fleet Manager of the vehicle’s estimated arrival time.

   4. After payment, the Head of Sales must update the Head of Marketing on the arrived vehicles, including colour, make, model, deposit, and monthly rental.

5. Delivery and Documentation

   1. The Procurement Administrator arranges the Vehicle Delivery, NATIS / RC1 & Vehicle Keys.

   2. The Procurement Administrator hands over the:

      1. NATIS / RC1 Document to the Head of Risk

      2. Vehicle & Keys to the Fleet Manager