“Requisition”

What is requisition?

A requisition is a formal request made within an organization to the purchasing or procurement department for the procurement of goods or services. It initiates the purchasing process and typically includes details like item descriptions, quantity, estimated cost, and justification for the purchase. The requisition is the first step in the procurement workflow, ensuring proper authorization and control over purchases, aligning with the organization’s procurement policies.

Contents of a requisition form

A requisition form usually includes essential details: item or service description, quantity needed, estimated cost, delivery date, vendor details if known, and a justification or purpose for the purchase. Additionally, it may contain the requestor’s information and appropriate approval sections for supervisors or relevant authorities to authorize the purchase.

FAQs

What is a purchase requisition form?

A purchase requisition form is a standardized document used within organizations to request the purchase of goods or services. It outlines the item details, quantity, estimated cost, vendor information, and justification for the purchase, serving as the initial step in the procurement process.

How a Requisition Works?

A requisition initiates the procurement process. When a department needs goods or services, they fill out a requisition form with details like item specifications and quantity. The form is then sent for approvals, ensuring the request aligns with project budget and policies.

Why should you enforce requisition in your procurement process?

Enforcing requisitions ensures that all purchases align with organizational goals and budgets. It provides a structured approval process, enhances cost control, enforces budget compliance, and promotes transparency, making the procurement process more efficient and accountable.
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