Purchase Requisitions Definition
A purchase requisition is a formal request to a vendor for the purchase of goods or services. The request is usually made by an authorized representative of the organization, such as a purchasing agent or department head.
The requisition should include all relevant information about the desired goods or services, such as quantity, price, delivery date, and any special instructions. It may also specify how the purchase will be paid for, such as with cash, credit, or a company check.
Once the vendor receives the requisition, they will usually provide a quote or proposal for the requested goods or services. The organization can then review the quote and decide whether to proceed with the purchase.
