Tuesday 11 November 2014

What is a ‘Purchase Requisition’ (PR)?

Answer

A ‘Purchase Requisition,’ PR, is the document that outlines a company’s purchasing needs of a material/service from vendor(s). A PR, typically an internal document that can be created automatically or manually, identifies the demand for a product and authorizes the purchasing department to procure it. In the automatic creation of a PR, this is done as a result of MRP (Material Requirements Planning). The PR, after identifying the vendor, is processed further to result in a RFQ (Request for Quotation) or directly to a Purchase Order (PO).



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