A purchase requisition is simply a request or permission for purchasing something. This is the first step of the procurement process, where the party wishing to purchase initiates the process of generating a request form. A big difference between the purchase order and purchase requisition is that the purchase order is placed with a supplier or vendor, an external party but the purchase requisition form is an inter-company document.
The purchase requisition form may be different for every organization, but the purpose of this document is to get approval or a go-ahead for the purchase order. For example, in many organizations, the purchase requisition mentioning the details of the items that are about to order is requested and sent to the finance department where the suppliers and vendors rates are available for comparison. The finance department will check the budgetary limits for that item or requesting department and give the approval for the purchase order.
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