A purchase requisition is an internal request asking for approval to buy specified goods or services. It records the business need, requester, quantity, estimated cost, budget, required date, and suggested supplier before a purchase order is issued to an external supplier.
How is Purchase requisition used?
A requester records the business need, specification, quantity, date, estimated cost, budget and suggested supplier where applicable. The requisition moves through the organization’s approval path before procurement creates an order or sourcing event. Rejection, revision and approval should remain traceable because the requisition establishes internal authorization, not a supplier commitment.
Quick reference for Purchase requisition
| Check | What it means for the transaction |
|---|---|
| Category | Procurement and sourcing |
| Record to keep | Keep the requirement, requester, supplier response, evaluator and approval together when they apply. |
| Do not infer | Do not treat a sourcing record as a purchase order, invoice or proof of delivery unless that later document has actually been issued. |
