Requisition - Explained
What is a Requisition?
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
Table of Contents
What is a Requisition?Purchase Requisition or Purchase Order?Academic Research on RequisitionsWhat is a Requisition?
Requisition is often used in procurement, it refers to a formal way of requesting goods and services form a department or supplier. It is generally in written form.
There are certain situations where requisitions are used outside of purchase and procurement. In the general sense, when a requisition is used, it means a request has formally been made and certain actions are expected to follow.
In the case of a purchase requisition, an employee who writes it is making a formal request for certain goods and services to be provided.
A requisition generally includes the following information:
- The date the request is made,
- the name of the person making the request,
- details of supplies requested,
- the date of delivery,
- the point of delivery, and
- the company responsible for the request.
- The individual writing a requisition must append his or her signature at the end.
Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT
Purchase Requisition or Purchase Order?
A purchase requisition is also called a purchase order, it is a written and formal request for goods and services. Large companies often use the purchase requisition process when employees need to procure certain goods and services from a department in the company. A purchase order can also be used by companies to order or request goods an services from external companies, vendors, and suppliers. When used for this purpose, it is a contractual agreement between companies that contains the details of the request, the items being purchased, their quantity, prices, payment plans, delivery dates and other information.
Academic Research on Requisitions
Panel content