Fraudsters target businesses with flaws in their procurement systems and send out fake invoices from suppliers or vendors they use. Prevent Fraud: Perhaps, the most important task of purchasing requests is to avoid dark purchasing.

Here are several ways in which purchase requisitions impact procurement. How Purchase Requisition Is Important To ProcurementĪ purchase requisition is essential to streamline the finances and optimize spending in an organization. The purchasing requisition procedure includes transferring the requisitions to the people in charge, informing the finance and accounts departments and working with the purchase departments to see that the request is fulfilled. The purchasing requisition process involves making the application, getting it approved and tracking all the purchase requests made in an organization. It informs the purchasing department of the need for said product or service and makes them initiate the procurement process This document is called the purchase requisition. When an employee of an organization needs to order something on behalf of the organization, they need a formal document. This is done to prevent the chances of mismanagement and fraud. There is a separate purchase department in charge of finding vendors, overseeing the purchase process and handing the invoices to accounts. Whether it is office supplies, consumables, raw material, or other products for the workplace, the different departments cannot directly purchase things from vendors.

Requisition meaning in marathi