Purchase Requisition Process Definition
A purchase requisition (PR) is a formal request to the purchasing department to buy goods or services. PRs are generated by employees who need to purchase items for their work. The purchasing department then reviews the PR and, if approved, creates a purchase order (PO) to send to the supplier.
The PO outlines the terms of the sale, including the price, quantity, delivery date, and payment terms. Once the supplier receives the PO, they will begin working on fulfilling the order. Once the goods or services have been delivered, the employee who created the PR will receive them and complete their task.
The PR process is an important part of many businesses, as it ensures that employees are able to get the supplies they need in a timely and efficient manner. By streamlining the process and using automation where possible, businesses can save time and money while still providing their employees with the resources they need to do their job.