Ogs

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Querist : Anonymous (Querist)

14 March 2014 What is full form of OGS purchase. What is mean to OGS purchase and how these are done.

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2014 Hello.. can someone explain this??

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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09 August 2024 **OGS Purchase** stands for **Open General Sale** Purchase.

### **Meaning of OGS Purchase:**

In the context of procurement and trade, **OGS Purchase** refers to a procurement method where items or goods are purchased through a general sales process without any specific constraints or preconditions, such as those imposed by exclusive contracts or tenders. It usually involves the following:

- **General Sales**: Goods are available for purchase by any buyer and are not restricted by any specific conditions.
- **Flexible Purchase**: Purchases can be made without a formal tender process, often used for stock replenishment or general needs.
- **Variety of Suppliers**: The purchase is not restricted to a particular supplier, allowing buyers to choose from a range of suppliers based on availability, price, and other factors.

### **How OGS Purchases Are Done:**

1. **Identification of Requirements**: The buyer identifies the goods or services needed.

2. **Selection of Supplier**: The buyer selects a supplier from whom the goods can be purchased. This could be based on availability, cost, and other relevant criteria.

3. **Order Placement**: An order is placed with the chosen supplier based on the general sales terms. This typically involves issuing a purchase order (PO) detailing the items, quantities, and prices.

4. **Payment and Delivery**: The buyer makes payment as per the agreed terms and receives the goods. Delivery terms and conditions are typically outlined in the purchase order.

5. **Receipt and Inspection**: The goods are inspected upon receipt to ensure they meet the required specifications.

6. **Documentation and Record-Keeping**: Necessary documentation such as invoices and receipts are kept for accounting and audit purposes.

### **Key Points About OGS Purchase:**

- **No Tendering Process**: Unlike tender-based purchases, OGS does not involve a formal bidding process.
- **Flexibility**: Provides flexibility to buy goods as needed without being tied to long-term contracts.
- **Immediate Needs**: Often used for purchasing goods required on an immediate basis or for regular replenishment.

**In summary**, OGS Purchase is a flexible procurement method allowing for the purchase of goods without the constraints of a formal tendering process, suited for general sales and immediate needs.

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