Historically, 98 percent of firms will not be successful during their initial Contractor Purchasing System Review (CPSR). Failing to obtain an approved purchasing system will impact the way a contractor operates its business, bid new contracts and subcontracts, and manages cashflow.
The Defense Contract Management Agency (DCMA) recently published an updated comprehensive CPSR Guidebook, including new CPSR requirements over contract supply chain oversight.
Mary Karen Wills and Mia Bautista provided an overview of the CPSR process and focused on how to begin to prepare for your CPSR today. They discussed current trends observed during a number of CPSRs, including an overview of key elements of concern that auditors look for during a CPSR.
- Become familiar with the requirements for a CPSR.
- Learn how firms are selected for CPSRs.
- Become familiar with the CPSR Guidebook contents, including understanding requirements and using the contents to improve procurement practices and position themselves for passing the CPSR.
- Be exposed to the most recent CPSR findings trends and be informed on how to address them.
- Learn how to proactively prepare for the CPSR.