Purchase re
This query is : Resolved
A D - Loving Life
(Querist)
23 November 2008
What is purchase requisition?
Deepak Agrawal
(Expert)
24 November 2008
Purchase requisition is the document requesting purchase department to purchase the reqd material
Ravikumar.G
(Expert)
24 November 2008
A purchase requisition is an authorization for a purchasing department to procure goods or services. It is originated and approved by the department requiring the goods or services. Typically, it contains a description and quantity of the goods or services to be purchased, a required delivery date, account number and the amount of money that the purchasing department is authorized to spend for the goods or services. Often, the names of suggested supply sources are also included.
A purchase requisition is owned by the originating department and should not be changed by the purchasing department without obtaining approval from the originating department. This important distinction (e.g. essential control) is not clearly defined in some of the more popular integrated procurement software systems on the market today.
In some industrial (e.g. production line) environments, the purchasing department may be assigned responsibility for requesting and purchasing goods. This is especially true for raw material purchases where the purchasing department is also responsible for inventory management.
A purchase requisition is not a purchase order and therefore should never be used to purchase goods or services or be used as an authorization to pay an invoice from a supplier or service provider.
A purchase requisition is owned by the originating department and should not be changed by the purchasing department without obtaining approval from the originating department. This important distinction (e.g. essential control) is not clearly defined in some of the more popular integrated procurement software systems on the market today.
In some industrial (e.g. production line) environments, the purchasing department may be assigned responsibility for requesting and purchasing goods. This is especially true for raw material purchases where the purchasing department is also responsible for inventory management.
A purchase requisition is not a purchase order and therefore should never be used to purchase goods or services or be used as an authorization to pay an invoice from a supplier or service provider.
O.D.SHARMA
(Expert)
24 November 2008
Purchase requisition is the request to Purchase Deppt.by other depatrments of an organisation.On the basis of This purchase deptt. will prepare purchase prder/Ask for quotation & precurement will be done.
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