Public purchasing is a management tool for acquiring goods and services, but it also involves planning and meeting all statutory requirements and ensuring fair and open competition. The purchasing function also involves contract administration, preparation of formal bids and request for proposals. The public purchasing process is subject to many statutory and regulatory rules that are not required in private industry. Determining, what is required, by whom, when and how, are all part of public purchasing.
The Local Public Contracts Law (N.J.S.A. 40A:11) and the Administrative Code (N.J.A.C. 5.34) are the main statutory and regulatory requirements which regulate public purchasing in the state and the township.
Finding the Right Goods & Services
Public purchasing involves so much more than finding the lowest price. It involves finding the right goods and services in the right quality, quantity, for the right price, and at the right time.