CPS Procurement Policy

CPS PROCUREMENT POLICY 

 

This course is intended to train the associates about the CPS Procurement Policy and reground on Key Elements of the Policy.  It includes additional controls and procedures specific to the local operating environment in CPS.  

SPP 5.1 & CPS Procurement Policy

We are audited against the SPP 5.1, supplemented by the CPS Procurement Policy

The SPP 5.1 policy describes the standard practices and procedures for the procurement, purchasing and payments business cycle.

  • It’s intended to ensure we leverage our purchasing power, while providing reasonable controls and obtain maximum value for the company
  • It is also intended to ensure that each employee understands how to identify Company-approved suppliers, when to use supply agreements, the approved methods for purchasing goods and services and his/her responsibilities and the limits of his/her authority
  • Applicable to all external expenditures made to suppliers
  • Business Units/Functions may implement additional procedures and controls to supplement this policy in their local operating environment

This policy is to serve the purchasing needs of the business while leveraging the Company’s purchasing power, and to provide reasonable controls so that the Company obtains the maximum value for the goods and services purchased. Source-to-pay involves three related processes:

•     Strategic and Tactical Sourcing – the process of defining business requirements for goods and services from third parties, assessing and selecting appropriate suppliers, and negotiating appropriate compensation and commercial terms for the goods and services required;

•     Purchasing – the process of committing to and obtaining goods and services from suppliers;

•     Payment – the process of compensating suppliers for goods or services received.

 

The CPS Procurement Policy supplements The Coca-Cola Company Corporate Procurement, Purchasing and Payment Policy SPP5.1

  • It is applicable to all external expenditures made to suppliers in the procurement of goods and services for use by the CPS
  • Provides additional controls and describes procedures specific to CPS:
  1. Use of company Approved Supplier
  2. Competitive Bidding Requirements
  3. Use of Supply Agreements
  4. Approved Purchasing Methods
  5. Engaging Procurement

 

Mark all the correct answers:

  • The CPS Procurement Policy is intended to supplement The Coca-Cola Company Corporate Procurement, Purchasing and Payment Policy SPP 5.1
  • The CPS Procurement Policy Includes additional controls and procedures specific to the local operating environment in CPS
  • The CPS Procurement Policy is not intended to serve the needs of the business while leveraging the Company’s purchasing power and providing reasonable controls, such that the Company obtains maximum value for the goods and services it purchases,
  • The CPS Procurement Policy is also intended to ensure that each employee understands how to identify Company approved suppliers, when to use supply agreements, the approved methods for purchasing goods and services and his/her responsibilities and the limits of his/her authority

Confidentiality

Confidentiality Overview

Information

Information is the lifeblood of The Coca-Cola Company.  Employees should maintain the confidentiality of information (whether or not it is considered proprietary) entrusted to them not only by the Company, but also by suppliers, customers and others related to our business. Confidential information includes all non-public information that, if disclosed, might be of use to our competitors or harmful to the Company, or its customers or suppliers

  • When sending e-mails/letters you need to write each supplier individually to protect our supplier/contact list If a mass e-mail is needed  to be sent to several suppliers i.e, single message topic/concern, the manager of the department is accountable for the mass communication and it must be a blind (bcc) copy mail  to ensure confidentiality is observed. It is strongly recommended an independent witness verifies the actual sending of the email and that the copy list is made using the blind copy functionality.
  • Do not automatically reply to all when answering e-mails as you may inadvertently send confidential information to the supplier.
  • Do not use S-Codes with a supplier – use only the supplier’s provided generic names/descriptions and P.I.N.s and our SAP numbers.
  • Do not provide detailed information on what ingredients are purchases. 
  • Do not discuss the price we pay for material from one supplier with any other supplier.
  • Do not discuss the total volume of any ingredient with a supplier unless it is appropriate and absolutely necessary.  Some ingredients are allocated and we do not want the supplier to know the percentage of supply they are providing.

Mark all the correct examples of Company confidential information.

  • Trade secrets
  • Your personal bill
  • Supplier lists
  • Newspaper
  • Information about the ingredients used and the sources/suppliers and volume of those ingredients.

Anti-bribery

Anti-bribery Overview

Important

  • When entering into supply, purchase or service agreements, associates should adhere to the Company’s Anti-Bribery Policy. This policy establishes the limitations we must adhere to when interacting with officials of various governments around the world, particularly where we might be providing something of value to a government official. The policy is also intended to provide awareness of anti-bribery laws in order to avoid inadvertent violations. A violation of anti-bribery laws can lead to severe civil and criminal penalties; therefore it is vital that we not only understand and appreciate the importance of this policy, but comply with it in our daily work.
  • Access or ask your manage to access: https://apps.ko.com/irj/go/km/docs/ep/Contribution%20Folders/MYKO/Policy%20Center/Documents/New%20Policy%20Center%20Templates/Anti-Bribery_Policy_Global_en_US.pdf
  • Associates purchasing goods and services should also adhere to the Company’s Global Anti-Bribery Policy. This policy establishes the limitations we must adhere to when interacting with officials of various governments around the world, particularly where we might be providing something of value to a government official. The policy is also intended to provide awareness of anti-bribery laws in order to avoid inadvertent violations. A violation of anti-bribery laws can lead to severe civil and criminal penalties.

Do you have to access, read and adhere to the Company’s Global Anti-Bribery Policy?

  • Yes
  • No

Key requirements for Sourcing process

Strategic sourcing process

Direct Material

Direct Materials are materials traceable to the finished product in the production process (e.g., ingredients, juices, packaging materials.) In addition, all direct material suppliers must be compliant with the Company’s quality standards (CORE) and approved by the Quality, Safety, and Environment department (QSE) before materials are purchased.

All suppliers must be Company- approved before a purchase commitment is made to the supplier

The following Global Procurement teams are responsible for the direct material negotiation (such as ingredients and juices.  Please refer to the section Procurement  Roles & Responsibilities for more details)

  • SIS (Strategic Ingredient Supply) - group manages the strategic procurement of confidential ingredients and commodities for the concentrate plants.
  • G2G - Grove to Glass group manages the strategic procurement of all juices used by the Company.
  • FM –Flavor Manufacturing – Manufacture the Confidential Merchandise
  • CPS & Local Team – Negotiations performed by CPS for the Package and Ingredients, not covered by Global Teams
  • If the category is not handled by these Company procurement organizations, the local procurement organization is responsible for the sourcing strategy.

Indirect Material

The Indirect category includes materials/services not traceable to the finished product in the production process (e.g., cleaning supplies and G&A expenditures, such as IT, professional services, and lodging). The purchase of services and goods have the same source-to-pay requirements unless specifically identified in this policy.

For purchases of CPS Indirect materials, the CPS procurement organization is authorized to approve suppliers.

CPS Procurement will designate certain suppliers of goods and services as Preferred Suppliers to indicate that these suppliers are Company-approved and recommended

Preferred Suppliers should be used wherever possible to leverage the negotiated pricing & terms and conditions with that supplier;

  •  to reduce risk to the Company; 
  • to reduce processing time of your purchasing request; 
  • and to improve productivity by leveraging our spend management strategies, including reducing the number of suppliers in our transaction systems

In certain cases, it may be necessary or appropriate to use suppliers that are not designated as Preferred Suppliers for Indirect goods or services.

To request a supplier to be Company-Approved to purchase from or to be considered for Preferred Supplier status, please contact CPS Procurement prior to initiating your purchase.

When the Local Procurement team is responsible for a Ingredient Sourcing?

  • If the ingredient category is not handled by the Global Procurement team (SIS, G2G or FM)
  • If there is an urgent situation the Local Procurement team can source the ingredient, even this is an ingredient category handled by the Global Procurement team.

CPS Competitive Bidding Requirements

Competitive Bidding 

Competitive bidding is a sourcing process by which competing suppliers are invited to bid to provide specific goods or services to the Company prior to contract initiation. This can be applied at the procurement category or project level. The Company determines the scope, specifications, and terms and conditions of the proposed contract as well as the criteria by which the bids will be evaluated. Competitive bidding assists in identifying and evaluating the supplier(s) that can provide products or services at the most competitive price, while also considering factors including quality, service, timeliness, and past performance. Bids and prices are not to be exchanged or divulged to other suppliers, customers or employees not involved in the procurement process, without documented business need justification.

For Direct and Indirect material needs to follow the following a formal bidding process must be used.  

Site level bidding thresholds may vary and are acceptable under this policy,  providing they are less than the CPS Competitive Bidding Requirements outlined in the table below:

CPS Competitive Bidding Requirements

Use the Commercial and technical Summary and Recommendation Form.

Recommended Standard to be used OR where appropriate a similar approved document based on local requirements

Site level bidding thresholds may vary and are acceptable under this policy, providing they are less than the CPS Competitive Bidding Requirements outlined above

Also, there is a CPS metric that is published on a monthly basis and provide narratives (Reason and action) for the non-compliance results


Capital Project

Note: The Competitive Bidding is requested for the Execution RFA process, only for the projects over $100K,  and it is a responsibility of the Engineering or the Budget holder.

The Process flow below show the timing and responsibles for this requirement.

How many Written Bids are necessary for a Purchase > $50,000 but < $150,000 OR Equivalent Rate in currency of expenditure?

  • 2 written bids ( copy of bids to be attached to the PO in SAP)
  • 2 written bids ( copy of bids to be attached to the PO in SAP). < 2 Bids the budget holder / requisitioner must provide documented final supplier selection rationale through the use of the Competitive Bid Summary Form

Mark the correct requirements for the Bidding process

  • Bidding is optional when Purchase < $10,000 OR Equivalent Rate in currency of expenditure – Must use company approved supplier
  • Site level bidding thresholds can not vary and are not acceptable under this policy
  • Minimum of 3 written bids when Purchase > $150,000 OR Equivalent Rate in currency of expenditure. (Includes Capital Equipment) obtained through formal Request For Proposal process. Procurement organization or Budget Holder must provide documented final supplier selection rationale through the use of the Competitive Bid Summary Form. Copy of Bids and Form attached to PO in SAP
  • Recommended Standard Commercial & Technical Bid Summary & Recommendation Form to be used OR where appropriate a similar approved document based on local requirements

Goods and services purchased under supply agreements & Competitive Bidding Exceptions

Some goods and services are purchased underwith a supplier, which cover ongoing purchases or services at a set period of time. While each individual expense does not require a competitive bid, the supply agreement under which the expenses are incurred must include pricing and other relevant conditions. These supply agreements are also subject to all supplier selection and competitive bidding policy and procedures:

  • Competitive bidding may be done at the category level rather than at the purchase order level.
  • Category sourcing must be conducted in accordance with all applicable laws and company policies.
  • Category sourcing must involve multiple suppliers. All Category sourcing decisions must be reviewed and approved according to the applicable LCOA.
  • A nondisclosure agreement signed by suppliers participating in the bid process must be requested.  NDAs will always be required where a supplier will have access to the production plants because our plant processes are considered proprietary and confidential or where information about volume is provided. The general rule is:-“Would it be acceptable from a company perspective if this information were to be printed in the press?” If the answer to this question is no then the supplier will need to sign a NDA.  Information that is considered proprietary or confidential is as follows:-
    • Pricing Structures;
    • Supply Structures;
    • Access to plant processes;
    • Formulations;
    • Confidential ingredients;
    • Specifications

Competitive Bidding Exceptions

  1. The competitive bidding requirements listed above should be followed except when circumstances prevent getting more than one bid (for example Local utilities, property, acquisition, etc.).
  2. Category sourcing must involve multiple suppliers unless there is only one possible supplier (for example, due to intellectual property).
  3. Rationale for all exceptions to the competitive bidding requirements must be documented and maintained (e.g., email, memo, meeting minutes) and approved by Procurement. 
  4. For purchases over $500,000, exceptions to the competitive bidding requirements must be documented with business rationale and approved according to Delegation of Authority (DOA) and the Local Chart of Authority (LCOA).

 

Mark the correct statements to manage the exceptions for Bidding process

  • The competitive bidding requirements should be followed, except when circumstances prevent getting more than one bid (for example Local utilities, property, acquisition, etc.).
  • Except when there is only one possible supplier (for example, due to intellectual property).
  • Exceptions to the Competitive Bidding Policy no need to be documented or approved.
  • For purchases over $500,000, exceptions to the competitive bidding requirements must be documented with business rationale and approved according to Delegation of Authority (DOA) and the Local Chart of Authority (LCOA).

Contractual Agreements With Suppliers

Procurement, in conjunction with Legal, will determine when a supply agreement is required with a supplier, to supplement or supplant the terms of the PO or other approved purchasing transaction method. At a minimum, supply agreements must be used in any of the following circumstances:

  • Purchases greater than the equivalent of U.S. $1 million. or
  • Purchase agreements that are longer than one year.
  • Purchase arrangements that include a financial commitment or derivative
  • Purchases of goods or services of a strategic nature (a purchase that is critical to a significant marketing plan or for plant operations)
  • Purchases where a PO is not in use. Including the following examples: Utilities, Benefits, Freight Inbound / Outbound
  • Purchase agreements that involve real estate; the creation, ownership, or license of intellectual property; or the supplier’s use of Company trademarks or other intellectual property.
  • Purchase agreement that is high profile or risky. Including the following examples: Experimental or untested products or materials, supplier is less than one year old-to the system, supplier required to make a new or non-routine capital investment, purchase of items for resale.
  • Purchase agreements for joint development agreements that may result in purchase obligations in the future.
  • Involves a government entity (excluding taxes and government fees).
  • Purchases below the U.S. $1 million threshold but do not meet the above criteria will be managed through the use of Purchase Orders that contain our terms and conditions.

POs or other short-term agreements can be used while a supply or services agreement is being negotiated if approved by Local Legal Counsel.) It is the responsibility of the individual initiating sourcing (e.g., Requisitioner or Procurement) to ensure the executed contractual agreement is maintained and accessible and to maintain documentation (email, signed contract, etc.) of Local Legal Counsel’s approval to not use a supply or services agreement beyond a PO when one of the above criteria exist. For any business arrangement, even those that do not meet the criteria above, Local Legal Counsel determines when a PO or other approved purchasing method is not enough and an additional contractual agreement is required to supplement or supplant the terms of the PO supplement or supplant the terms of the PO.

The Contract Approval and Cover Sheet Form (available from legal) must be used when completing the above transactions.

Contract Approval and Cover Sheet Form

(Recommended that in the absence of a local Contract Approval Form,  the CPS standard is used-  If a local Approval Form exists, ensure the relevant sign-off and key contract data is complete prior to contract sign-off)

Also, there is a CPS metric that is published on a annual basis and provide a Contract log for the purchases greater than the equivalent of U.S. $1 million

Mark the correct requirements, when we must use a Supply Agreement

  • Purchase agreements that involve real estate; the creation, ownership, or license of intellectual property; or the supplier’s use of Company trademarks or other intellectual property
  • Purchase agreements for joint development agreements that may result in purchase obligations in the future.
  • Purchases until U.S. $1 million or equivalent
  • Purchase agreements that are not longer than one year
  • Purchase arrangements that include a financial commitment or derivative
  • Purchases where a PO is not in use. Including the following examples: Utilities, Benefits, Freight Inbound / Outbound

Purchasing and Payment Policy

Purchasing and Payment requirements

Purpose

  • The purchase and pay section of the overall procurement process includes Ordering Goods and Services, Receiving Goods and Services, Processing Invoices and Managing Vendor Master File

Ordering Goods and Services Requirements

CPS should ensure that it has the goods and services it needs to do business. These goods and services must be purchased using approved transaction methods, purchased from approved suppliers, obtained at a competitive price, and recorded accurately and in a timely manner.

  • All purchases must meet a valid business purpose
  • All purchases are subject to operating and capital budgets
  • All purchases must be approved according to the LCOA and DOA
  • All purchases must originate using approved purchasing methods
  • Purchases must be processed in the buyer’s functional/local currency
  • Purchasing & Corporate American Express (AMEX) cardholders are required to submit monthly expense reports
  • Capital purchases require an approved Request for Authorization (RFA)

CPS Approved Purchasing Methods

  • Purchasers must use the approved purchasing transaction method as described below


Receive Goods and Services Requirements

The purchaser or requester (or in some cases a receiving department) must verify the goods or services have been delivered as promised in accordance with the terms of the purchase order. The term “goods receipt” refers to the process of receiving goods and services on SAP. Timeliness and accuracy are essential. The proper validation and recording of goods receipts and returned goods notices enables an accurate three-way or two-way match (between the purchase order, the invoice and the goods receipt) and a timely payment or payment offset to the supplier. If the goods receipt is not processed, the corresponding invoice will be blocked for payment.

  • PO price and PO quantity discrepancies must be resolved with the supplier.

Invoice required / Goods Receipt required

All POs require a goods receipt and invoice posting to complete a three-way/two-way match at the purchase order line item level. The following matrix describes the expected notifications and actions required for this transaction:

The following are to be followed when receiving goods and services, and also Invoice required:

What are the Purchasing methods approved for CPS?

  • Purchase Orders, Direct Pay (Non PO Invoice), Purchasing Card, Lease Agreements
  • Purchase Orders, Direct Pay (Non PO Invoice), Purchasing Card, Corporate AMEX Card, Lease Agreements

Processing Supplier Invoice & Payment

Processing Supplier Invoices and Payments

Every effort should be made to manage cash flow by balancing pricing, supplier discounts and payment terms. All payments, manual (e.g. physical checks, electronic funds transfers (EFTs)) and system-generated, must be properly supported and approved in accordance with the applicable LCOA. Checks and EFTs are signed and/or approved in accordance with the approved bank signatory listing (Company personnel authorized to sign checks) registered with the bank.

When a supplier invoice is received, it is processed for payment by Accounts Payable. The Requisitioner or their cost center manager is responsible for investigating and resolving aged, blocked and erroneous supplier invoices before payment through review of aged open POs. 

Invoices must reflect the purchase of goods and services on the corresponding PO. The Requisitioner must submit any invoices received directly from the supplier to Accounts Payable for processing. Where automatic three-way / two-way match is not possible, the vendor invoices are reviewed by the LCOA approver for proper support and coding prior to payment. For non-PO invoices, the Requisitioner is responsible for invoice coding to the correct general ledger account.

Payment Terms 

The Company’s default payment terms are net 60 days or greater from invoice date, subject to local laws and regulations, unless other terms have been contractually negotiated with the supplier after receiving approval from BU Finance or Global Function Finance. Refer to Supplement 5.1.3 (*)for a list of pre-approved exceptions to the payment terms requirements.

If an advance payment (e.g. deposit, pre-payment) is required per the contract, split payment terms must be initiated on the PO/PR level to ensure that payments processed after the advance payment comply with the payment terms stated above. Advance payments must be approved in accordance with the DOA and LCOA; however, the PO approval process is sufficient if the DOA or LCOA do not require additional approvals or a Request for Authorization (RFA).


(*)Below are authorized exceptions from the Company payment term policy; exceptions must be approved by the BU Finance or Global Function Finance.

  • Utilities 
  • Reimbursement to individuals (e.g., recruits, rent, lease payments)
  • Bottler Payments (e.g., marketing, incidence pricing)
  • Employee T&E
  • Marketing Production & Development Costs
  • Expenses related to security provided for executives
  • Agency T&E
  • SEC Reporting (e.g., E&Y)
  •  Fruit, juice, and juice puree agreements
  • Customer payments, including rebates

    Insurance & benefits agreements

    M&A/Treasury

    Joint Development Agreements

    Charitable Donations

    Reimbursements to non-employee individuals (e.g., interview costs)

    Expatriate-related payments (e.g., rent)

    Intercompany transactions

    Government - local and national

    Media Buying Investment6

     Taxes

Recurring Payments

A recurring payment is a contract-based payment for the same amount at the same time interval over a specified time period (typically a year). Lease or rent payments are examples of recurring payments. These payments must be re-supported and approved each year in accordance with the DOA and LCOA.

Duplicate Payments 

Preventive and detective controls, such as the system automatically rejecting / blocking duplicate invoices / payments and automated three-way match, must exist to mitigate the risk of duplicate payment of invoices.

Petty Cash

Use of petty cash is discouraged where alternative payment methods are viable, such as P-Card, expense reports, or Direct Pay. If these options are not viable, then local Business Units may maintain petty cash funds for disbursing small, miscellaneous amounts that are most conveniently paid in cash. See SPP 6.1 Cash Management for more information regarding petty cash.

Who is responsible for investigating and resolving any Invoice issue?

  • The Requisitioner or their cost center manager is responsible for investigating and resolving aged, blocked and erroneous supplier invoices before payment through review of aged open POs.
  • The Account Payable and the Supplier

What is the Company’s default payment terms ?

  • Greater than 60 days from invoice date
  • Net 60 days from Shipment date
  • Net 60 days or greater from invoice date

Procurement Roles & Responsabilities

PROCUREMENT ROLES & RESPONSABILITIES

Purpose

The procurement roles and responsibilities include strategic, operational, and transactional components. Strategic procurement involves setting and communicating procurement policy, developing sourcing strategies, and managing strategic relationships with suppliers. Operational procurement involves implementing sourcing strategies and ensuring all functions are using designated suppliers and appropriate transaction methods. Transactional procurement focuses on the execution of purchasing transactions.

Strategic Procurement Roles and Responsibilities

The following activities are considered strategic components of the procurement process. These activities are generally the responsibility of the relevant global procurement organization (SIS, G2G and FM) or the CPS procurement team where appropriate

  • Develop global and multi-regional category sourcing strategies and implementation plan.
  • Manage strategic relationships with suppliers.
  • Measure and manage overall supplier performance
  • Conduct Request for Quote (RFQ) and Request for Proposal (RFP) activities.
  • Evaluate, negotiate with and approve suppliers.
  • Execute supply agreements for buying goods and services from Company approved suppliers.
  • Incorporate Company policies and guidelines into procurement strategies and supply agreements Develop and issue procurement policies regarding suppliers and purchasing transaction methods

Operational Procurement Roles and Responsibilities

The following activities are considered operational components of the procurement process. These activities are the responsibility of CPS Global/Regional/Local Procurement team, working very closely with the appropriate business functions in charge of transactional procurement in order to implement and maintain the effectiveness of managed procurement programs.

  • Implement sourcing strategies
  • Communicate and train employees on following procurement policy and procedures for each category of goods and services.
  • Monitor and enforce compliance with procurement policies in conjunction with Finance.

Transactional Procurement Roles and Responsibilities

Transactional procurement activities are conducted by a variety of departments, including Vendor Scheduling, Engineering, Quality, Finance Shared Services and the Accounts Payable (A/P) function.

Once strategic and operational procurement processes have been followed, the purchase transaction must be executed properly. Procurement, Business Unit or Function employees are responsible for transactional processes such as:

  • Create a requisition for a good or service.
  • Create a PO using a Company approved supplier. If none is available, then use a competitive bid process to select a local supplier.
  • Maintain PO in SAP or local financial system.
  • Create a goods receipt transaction in SAP or local financial system to indicate receipt of goods or services against a PO.
  • Monitor transaction processing metrics.

Global Business Services (GBS), our shared services group, or the Accounts Payable function is responsible for these activities:

  • Ensure that the Procure to Pay (P2P) Portal houses the current procurement process to enable the business to submit purchase transactions using approved purchasing methods and designated suppliers.
  • Convert a requisition to a PO according to policy and in accordance with global procurement requirements using a Company-approved supplier.
  • Enter invoices and perform a three-way match with the PO and goods receipt.
  • Disburse payments to suppliers in an accurate and timely manner.
  • Work with procurement or Business Unit employees to assist with discrepancies with POs, goods receipts, or invoices.
  • Ensure accuracy of the vendor master file by working with the master data custodian and procurement.

Key Roles & Responsibilities

Procurement 

  • Procurement (e.g., Global Sustainable Procurement (GSP), Business Unit (BU) Procurement, bottler procurement, etc.) develops global, regional, and local procurement and sourcing strategies. In addition, they manage strategic relationships with suppliers. They are also responsible for working with business stakeholders to execute strategic sourcing and competitive bidding. Procurement consists of category or BU Procurement leads and buyers who have the ability to perform strategic and tactical procurement. Procurement personnel have the authority to determine their level of involvement with any sourcing project or purchase; however, the Requisitioner is only required to contact Procurement for sourcing transactions with anticipated contract value (i.e., Forecasted Contractual Spend) of $50,000 or greater
  • BU Finance or Global Function Finance
  • Represents the highest finance role in a BU, Global Function, or equivalent. They are responsible for, but not limited to, overseeing budgets and ensuring processes are in place to manage spend within the budget..

Local Legal Counsel

Advises Requisitioner and Procurement on legal requirements for procurement contracts based on Company requirements and local laws and regulations.

Requisitioners 

Requisitioners (e.g. originators) either submit purchase requisitions (PR) or directly acquire goods and services from suppliers on behalf of the Company. (e.g., Requisitioners are accountable for requesting contracts and for submitting purchasing requests on time in the procurement systems and monitoring the requests through payment.)

Purchasing/Accounts Payable 

The purchasing/accounts payable department (e.g., shared services and Global Business Services Procure-to-Pay) processes PRs, creates Purchase Orders (POs), processes invoices, and executes payments

Worldwide Licensing (WWL)

WWL protects the Company’s trademarks by licensing its brands on merchandise for sale throughout the world. In addition, WWL is responsible for the governance of the Global Promotional Merchandise (GPM) Policy and for executing all Supplier Authorization Agreements (SAA) for promotional merchandise.

Worldwide Agency Operations (WWAO)

WWAO provides thought leadership, guidance and tools, as well as, builds agency management capabilities of marketers. In addition, WWAO leads and manages global agency relationships in support of work delivered on a global level.

Vendor Master Group (VMG)

VMG or equivalent is responsible for, but not limited to, processing new vendor or vendor change requests to update the vendor master file (VMF).