Author(s)

Wenchang Li, Zeyu Qian

Corresponding Author

Zeyu Qian

Abstract

Purchasing business plays an important role in manufacturing industry. Imperfect implementation of any link of internal control in the whole process of procurement business may lead to problems such as poor quality of purchased funds, high prices and corruption of purchasing personnel. Similar problems will also bring immeasurable losses to enterprises. Especially for the ship industry, the purchase of materials, steel structures, equipment, outfitting and so on will directly affect the quality and safety of ships. Taking TH Shipping Group as an example, this paper specifically analyses the control objectives and internal control risks of the ship industry in the procurement process, and puts forward suggestions and measures for improving the supervision of the formulation and implementation of enterprise internal control standards. It provides reference for similar enterprises to achieve the goals of reducing costs, improving profits and enhancing core competitiveness.

Keywords

Purchasing Management; Internal Control; Risk Control