Simplifying the Purchase Requisition Process: Your Complete Guide and Its Importance for Business

Purchase Requisition Process A purchase requisition is a formal internal document used within organizations to request the purchase of goods or services. It marks the first step in the procurement process, which eventually leads to the creation of a purchase order. The purchase requisition must be reviewed and approved to ensure alignment with company budgets and policies before it’s converted into a purchase order, which is a legally binding document sent to suppliers to complete the transaction.