Purchase Requisitions

Purchase requisitions are the first step in a well-managed, transparent purchasing process.

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What are purchase requisitions?

Purchase requisitions are formal requests submitted to the procurement department for specific goods or services. They usually go through an approvals process that depends on the cost or nature of the request.

Purchase requisitions can come from anywhere in an organization. Requests for goods or services above a certain dollar amount usually lead to an RFQ or are bought from a supplier with whom the company already has a negotiated contract.

Important Stakeholders

Requester – any person in an organization who submits a purchase request, responsible for notifying buyers of item specifications and the purchasing timeline

Approver – the budgetary gatekeeper from outside the procurement department

Buyer – the person in charge of making the purchase by either running an RFQ to identify possible suppliers or issuing a PO to a current supplier

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What are the benefits of automating the requisitioning process?

1

Centralize procurement – All purchase requests get funneled through a central procurement and purchasing department. Buyers can then bundle purchases and leverage the company’s buying power to negotiate more favorable contract terms.
2

Move out of email – Email is less than ideal for keeping track of stakeholder communications. A requisitions management tool stores all related communications (specifications, documents, etc.) together with the specific purchase request.
3

Automatically route purchase requests – Requisitioning software streamlines the approval process by making sure buyers and requesters don’t have to waste time tracking down the right person.
4

Easily track requisitions – Requesters can check the status of their order on one central platform, meaning buyers don’t have to respond to dozens of emails asking for constant updates.
5

Quick approvals – You don’t have to track down budget holders for a signature on paper; they can simply approve via the online platform with a click of the mouse.
6

Faster requisitioning process – By centralizing the purchasing process and organizing all stakeholder communications, purchase requisitions can be fulfilled more quickly and more accurately.

Try Out DeltaBid’s User-Friendly Requisitioning Software