Once the selection is finalized, the library has to proceed with the procurement of documents.
Although the selected documents can be procured by several means such as; gift, institutional membership, deposits, exchanges and purchase. Here we will elaborate how to purchase the selected documents.
Choice of the Supplier and Ordering Methods
The different practices followed by libraries in the choice of the supplier and effecting supplies are:
- Inquiry/Tender method
- Quotation Method
- Standing Vendor Method
- Books-on-Approval Method
- Open Purchases
- Direct Ordering with Publishers
In the context of MGM’s acquisition policy, we will discuss only on (i), (ii) (iv) and (vi).
Inquiry/Tender Method : In inquiry or tender method, every book list of finally selected items is circulated among a number of booksellers who are invited to quote their lowest prices for each item. The order is placed for each item with the firm offering the lowest price.
Quotation Method : In this method, quotations are invited for various categories of documents along with trade discounts admissible in each case, and the conversion rates in the case of
foreign currency prices. This is done usually prior to the beginning of the financial year. The supplier for each category is fixed finally on the basis of the most economic terms offered.
Books-on-Approval Method : It is applicable on purchase of a few items having latest information in the area of requirement.
Direct Ordering with Publishers : This has definite advantages in the case of foreign publications, provided the publishers have their representatives or wholesalers in the country. The publication can be purchased directly from them availing maximum discount. Moreover, if publications are to be purchased direct from the publishers, there is no need to call any quotation etc. as they would offer maximum discount which is applicable to retailers/booksellers.