The general criteria to be used by the selectors for the acquisition of the LIC materials are listed below in priority order:

• Curriculum support. Materials related to the fields of study in the curriculum will form the core of the LIC collection.
• Research support. Materials related to the research undertaken by the Institute. The Library will not procure reading material for sponsored and funded projects.
• Reference materials. Reference material required for various academic programs.

After conducting a duplicate check, LIC compiles a consolidated list and emails it to committee members. The list signed by the section in charge and librarian undergoes approval processes: first, from the Chair of the LIC committee, and subsequently, from the Competent Authority. Upon receiving final approval, LIC procures reading materials through its approved sources, ensuring diligent measures for timely supply.

Ordering: The ordering can be done by print, online, email, etc., depending upon the convenience of the library with standard terms and conditions. The Librarian will issue purchase orders. IIMK has registered vendors based on their performance response to the queries, speed of supply, promptness in follow-ups, adherence to the terms and conditions, etc., the order will be placed.

Books and other reading materials will be purchased through the registered vendor at the pre-agreed discount rate, i.e., 15% for foreign books and 20% for Indian books. This is the minimum discount, and a discount more than this rate is also accepted.

The exception would be in the case of government publications/ institution publications or nil discount items. The books sometimes carry low discounts or can be obtained only from specific sources, such as traditional agencies, which are not registered suppliers of IIMK LIC. In such cases, the order will be placed after taking due approval. If a user urgently requires a book and is unavailable with our impaneled vendor, the LIC can purchase it online and through the e-commerce portal at the listed price.

The LIC is committed to procuring the learning resources on time to meet the Institute's teaching and research demands. LIC can purchase books from online bookstores like amazon.com, flipkart.com, etc., to fulfill this commitment and meet urgent needs. In such procurements, discounts may or may not be available. Sometimes courier/postage charges are also included, but these books arrive on time. The Institute's credit card will be used for this kind of purchase.

The library will always encourage you to buy the books from the cheapest available sources, i.e., online/ registered vendors, for regular discounts. Whenever a library gets an individual book purchase request, the first choice is to search for the book in the online bookstore, if online bookstores offer the discount laid down by the institutional norms (15% for foreign and 20% for Indian books) or more, the purchase will be made through online. If a book is available in the online bookstore with a short/nil discount, the library will approach the registered vendor to know the availability and duration of the supply. If the books are unavailable through the registered vendor or the supply time is too long (more than four weeks) but available in an online bookstore for immediate delivery, the LIC can directly purchase the book from online bookstores to fulfill the user's requirement on time.

• LANGUAGES 
  English is the principal language of materials acquired for library use. As per the Parliamentary Committee on implementing the Hindi language, an institution should spend half of the budget to purchase books in Hindi, which is impossible in an Institution like IIMK; however, an adequate number of Hindi books the patron recommends will also be acquired. As a part of building up an Indian language collection, books from other languages are also acquired.
• COST
  The cost of materials will also be a deciding factor in acquiring materials. Requests for any item with a high cost will be discouraged. The Librarian may contact the requester to inform them about the material's high cost and advise him to find an alternative title with a lower cost. If the requester insists on his request, circulate the list in the area and seek one or more recommendations. Then, the matter should be referred to the Competent Authority, which will have the final authority to acquire expensive materials.
• DUPLICATION
  The acquisition of duplicate copies of books or any other library materials should be avoided unless the item is in great demand, and acquiring the second copy will help the users in their studies.
• TEXTBOOKS
  The LIC will not procure textbooks except reference material for the course.
• GOVERNMENT PUBLICATIONS
  The library gets many government publications free of charge. However, not all of them are received automatically. The LIC will make all efforts to select and acquire government publications of reference nature. The LIC collection will not include reading material like coffee table books and printed material without price. However, such material will be displayed for reference.
• PhD THESES
  As a policy, the LIC collects one hard copy and a soft copy of all PhD theses accepted in various academic departments at IIMK.
• DAMAGED AND LOST MATERIALS
  Damaged materials are repaired, rebounded, or replaced when they meet other selection criteria described in our policies. Lost materials are replaced wherever possible if they meet other selection criteria defined in our policies. The latest edition or version will be preferred, if available.
• COLLECTION EVALUATION AND ASSESSMENT
  The LIC collection needs continuous evaluation to ensure that the library is fulfilling its mission to provide materials in support of the IIMK’s academic and research programs on time. Library statistics, such as circulation reports, collection turnover rates, fill rates, reference filtrates, shelf allotments, and volume counts, will be studied to determine how the collection is used and how it should change to meet user needs. The input from user surveys will also be used to evaluate the collection.
• WEEDING OUT OF BOOKS
  Continuous review, evaluation, and weeding help routinely remove outdated and unused materials from the collection. The primary benefit of weeding out is saving space and time and making the collection more appealing. We will get constant feedback on the collection's strengths and weaknesses.