IEEE Strategic Sourcing supports the IEEE community by sourcing quality goods and services at competitive prices, promoting supplier diversity, practicing proper financial stewardship, and guiding staff and volunteers through the contracting process.
The areas of responsibility for the department include procurement, contract management, supplier management, competitive bidding, and purchasing card administration.
In response to the recommendations received from IEEE legal counsel and its external auditors, at its 8 May 2000 meeting, the Executive Committee considered several enhancements to financial controls over all IEEE units, including geographic units and conferences. After considering the possible ramifications of these items, the Executive Committee recommended that the Board of Directors approve Policy & Procedures Manual revisions that would require execution of all contracts with an expected value equal to or greater than US$25,000 at the Operations Center. This was approved by the Board in June 2000.
This recommendation was made as part of an overall plan to improve IEEE's ability to achieve proper fiduciary controls over its financial operations, including those for its geographic units and conferences and ensure its not-for-profit status under paragraph 501(c)(3) of the Internal Revenue Service Code is retained. This action has the full support of IEEE's legal counsel and external auditors.