Management Regulations Concerning Procurement of Sand Casting Supplies

In order to upgrade quality level of sand casting supplies, strengthen related internal management, decrease consumable costs and improve economic performance and business level, by common consent from the board of directors, hereby adopt the following management regulations:

sand casting suppliesI. Duties

1. Implementing all the provisions of “Management Regulations Concerning Procurement of Sand Casting Supplies”, well arranging purchase, supply and management work involving sand casting supplies for guaranteeing the supply of sand casting supplies and other production materials, aiming to the equilibrium of supply and demand;

2. Making a comprehensive program by requests from Manufacturing Department. If only getting approval from manufacturing manager, it shall be executed;

3. Per stock balance, ordering purchase and supply demands, specially the section of sand casting supplies while well controlling capital flows;

4. Regarding procurement of each kind of company materials, all of them shall be purchased on schedule. When need to purchase those supplies that generally don’t happen shortages within downtown, including those sand casting supplies, buy up them batch by batch and stage by stage for preventing from funds lie idle so as to affect its normal circulation.

II. Requirements

1. Having periodical inspections of accounting items and materials within the warehouse, and keeping track of procurement catalogue and inventory limit in the company;

2. Once finding any circulation of non-standard sand casting supplies within the company, punish Purchasing Department the forfeit twice as much as the price of the non-standard one.

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