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ERIC Number: ED251157
Record Type: Non-Journal
Publication Date: 1984-Nov
Pages: 20
Abstractor: N/A
Reference Count: N/A
Visa Cards Save Thousands.
Schafer, Eldon G.
A thorough review of Lane Community College's purchase order system revealed that 62% of all purchase orders processed in 1981-82 were for amounts under $100; that these orders made up only 3.5% of the dollars expended in acquiring materials and services for college operations; and that each purchase order cost the college $75 in supplies and staff time. A situation analysis revealed several problems and needs associated with the purchase order system, leading to the identification of a number of possible long- and short-range solutions (e.g., establish an electronic transfer system, use Visa cards for small purchases, automate the warehouse catalog, create an information source regarding policies, modify signature requirements, and get departmental input regarding warehouse stock). Following an analysis of the potential solutions, the use of Visa cards for purchases under $100 was selected as the highest priority project to pursue. Following initial discussions between the director of financial services and a local bank, the college entered into one master contract agreement with the bank, which issued all cards. Following a pilot project, Visa cards were issued to more than two-thirds of the college's instructional departments for material and supply items under $100. The process has reduced by nearly one-half the number of steps formerly required by departments and greatly reduced costs. (LAL)
Publication Type: Speeches/Meeting Papers; Reports - Descriptive
Education Level: N/A
Audience: Practitioners
Language: English
Sponsor: N/A
Authoring Institution: N/A