| Sourcing Engagement | Vendor Management | Contracts | Procurement Process & Invoicing | Related Policies & Procedures |
|---|---|---|---|---|
|
What is the spend threshold to engage Sourcing.
$50,000
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What is $50,000-$250,000.
This spend threshold requires a minimum of 2 bids.
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What is the Contract Repository or go/contracts.
Contract must be stored here.
|
Go/Buy
This site is where you go to find the approved purchasing tools and processes.
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What is the Global Payment Terms Standard.
This document governs payment terms exception approvals and approved payment channels.
|
|
What is The Responsible Marketing Council.
This group must be engaged if there are questions regarding applicability of the The Global General Marketing Policy for consumer facing work.
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What is a Preferred Vendor.
This vendor has been bid and approved by Sourcing to provide specific goods/services for a period of time with agreed terms and pricing models.
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What is the Global Sourcing Center.
This team must be informed as part of the approval routing for contracts with $250M-$999M in spend.
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What is a purchase order.
This document commits General Mills to the purchase of a good or service.
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What is the Vendor Management and Purchasing Policy.
This policy governs purchase order authorizations.
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What is Engineering.
This category does not require Sourcing engagement below the $100M threshold.
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What is one year or the length of the contract.
Competitive bid waivers must be stored for this length of time.
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What is a completed approval routing.
This must happen prior to a contract being signed.
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What is the Corporate Card.
This payment method is intended for one-time business expenses directly related to travel and entertainment.
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What is the OGS Sourcing Procedure.
This procedure outlines the expectations of Sourcing personnel.
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What is Source to Pay.
Indirect Sourcing engagement means that this process will be applied as determined by the Sourcing Buyer.
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What is a (qualified) diverse vendor.
At least one of these vendors should be included in a competitive bid.
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What is the authorized signatory and Indirect Sourcing.
These two parties are responsible for the content and integrity of the agreement.
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What is pay a final invoice.
This should never be done prior to receipt of goods.
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What is the Information Protection and Classification Standard.
This standard defines "special controls" data.
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What is food sampling services for consumers (if not in Coupa), access to special controls data, poses a material risk to GMI.
Three risks that would require Sourcing engagement regardless of the spend
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What is a Strategic vendor.
Indirect Sourcing is responsible for vendor performance management of this type of vendor.
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What is Budgeting Function Director, Regional Sourcing Director, Regional Budget Finance Director, and Global Sourcing Director.
These roles must approve a contract that is 4 years in length and $3.5MM in total spend.
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What is the "non-PO" or "Invoice only" process.
Utilities, Benefits, and Digital Coupons are all paid via this process.
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What is Internal Controls with External Parties.
This document outlines controls for supplier risk.
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