Requisitions VS. Purchase Orders

Purchase RequisitionsWhen defining requisitions and purchase orders, it’s important to know not only how they are different, but what they stand for. Both key documents are used to managed cost within a business or company. They both not only have control over employee and manager spending but also increase the chance of receiving discounts on … Continue reading Requisitions VS. Purchase Orders

Stages of a procurement process

To have an efficient procurement process, there are several steps to take, to have a proactive and efficient requisition. Any types of procurement inefficiencies can cost organizations huge losses in cash, due to delayed purchases, missed discounts, and transaction disputes. All procurement management process involves several elements, including requirements determination, supplier research, value analysis, raising … Continue reading Stages of a procurement process

What is Requisition?

Requisitions or purchases requisitions are forms of documents used when employees or leaders, need to request goods or services from the company. These types of documents are mainly used to inform the department leaders of the order. Once completed, it's passed onto the finance team to coordinate and order the supplies needed. This can range … Continue reading What is Requisition?