What is the function of a purchase requisition?

The function of a purchase requisition is primarily to request the procurement of goods or services. This document is typically used within an organization to initiate the purchasing process. When a department or unit identifies a need for products or services, they prepare a purchase requisition to formally communicate that need to the procurement or purchasing department.

The requisition details what is needed, including specifications, quantity, and desired timeline, allowing the procurement team to take appropriate actions, such as sourcing suppliers, obtaining quotes, and ultimately issuing purchase orders. This process helps ensure that purchases are documented and approved, improving accountability and budgeting within the organization.

Other options provided relate to different aspects of procurement: vendor payments are typically handled through a separate financial process, selling surplus inventory is a completely different function that deals with the management of excess goods, and supplier evaluations focus on assessing vendor performance rather than initiating purchases. Thus, the purchase requisition specifically serves the critical role of requesting the procurement of necessary goods or services within the organizational framework.