You are merely beginning the process of a purchase by asking for internal permission.
When you fill out a purchase requisition, you are not yet purchasing anything.
What is a purchase requisition?Ī purchase requisition is a document that an employee within your organization creates to request a purchase of goods or services. Let’s break down the basics of the procurement process by exploring the difference between purchase requisitions and purchase orders. As a result, people either misuse these documents or don’t use them at all.
Yet many business owners are unfamiliar with each document and their specific roles within the purchasing process. They allow teams to plan purchases adequately, plan budgets, and provide proof of spending in case of financial audits. Purchase requisitions and purchase orders (“POs”) are both key documents in an efficient procurement process for any business.
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