Purchasing as an activity may sound as easy as buying your weekly groceries. However, consider all the mistakes that we have made when shopping; you find yourself buying things you don’t need in the heat of the moment or suddenly leaving the store with your wallet feeling ten times lighter.
Purchasing on a bigger scale is no different. Businesses often find themselves with an excess of stock that brings more harm than good.
This is where the need for a Purchase Requisition comes in but before we delve deeper into Purchase Requisitions, let’s clarify what it is.
Purchase requisition (PR) at its core is an internal document that outlines the requested goods and services of a business. As such this document requires approval from relevant parties which starts off the purchase requisition process and ends with the procurement team sending out the purchase order (PO) to the vendor.
Curious to know what a Purchase Order is? Click here for the 7 things you need to know about purchase order!
The answer to this question lies at the hands of the business.
Smaller companies can manage without a Purchase Requisition but for bigger companies with hundreds of employees, it is best to have a purchase requisition to keep track of where the request is coming from without having to play detective.
The workflow can be as short or as long as your business desires. However, no one wants a long and dragged out process that would take weeks just to get a “yes!” from the procurement team.
Hence, the purchase requisition process is a flexible one and it can be customised to fit your business. Despite the additional step to require approval, the benefits of having it will greatly outweigh the negatives.
As listed, the PR process requires an abundance of paperwork being passed from one person to another that could very well get misplaced or damaged causing even more delay in the PR flow.
However, there is a way out of this predicament…
Meet ADAM, a one-stop e-procurement solution provider that helps automate your purchase requisition process from start to finish.
Automation is the perfect solution to all your PR flow needs as it will reduce human error, gives you better spend transparency and increases productivity!
With so many benefits of automation at hand, it seems too good to not give it a try! Click here to learn more about ADAM and how it can help manage your PR flow.