Purchase Requisition Workflow Process

Gather all necessary information for the purchase requisition (e.g., item description, quantity, budget code, requested delivery date)

Verify if the purchase requisition is within the authorized spending limits

Confirm if there are any existing contracts or agreements that should be considered

Assign the purchase requisition to the appropriate department or individual for review

Review the requisition for accuracy, completeness, and compliance with company policies

Determine if the requested items are necessary and align with the organization's goals

Obtain approval from the designated authority based on the predetermined approval hierarchy

If additional information or clarification is needed, request it from the requester

Track and document the approval process

Notify the requester of the approval or denial decision

Ensure that the requisition is reviewed in a timely manner

Confirm that all necessary signatures are obtained

Follow up with the requester if the purchase requisition is not approved

Verify if sufficient budget is available to fulfill the purchase requisition

Evaluate the cost of the requested items and compare it with the available budget

Identify any potential cost savings or alternative options

Consult with the finance department or relevant stakeholders if necessary

Research and identify potential vendors or suppliers who can fulfill the requisition

Evaluate vendor options based on factors such as price, quality, reliability, and delivery terms

Initiate negotiations with selected vendors to obtain the best possible terms and conditions

Document any agreements or contracts negotiated with the vendor

Generate a purchase order based on the finalized vendor selection and negotiated terms

Include all relevant details from the requisition, such as item description, quantity, price, and delivery date

Obtain necessary approvals for the purchase order

Share the purchase order with the vendor and internal stakeholders

Monitor the progress of the order fulfillment and ensure timely delivery

Communicate with the vendor to resolve any issues or delays that may arise

Coordinate with the receiving department to ensure proper inspection and acceptance of the delivered items

Update the requester and relevant stakeholders regarding the status of the order

Match the vendor's invoice with the purchase order and delivery documentation

Verify the accuracy of the invoice, including quantities, prices, and any applicable taxes or discounts

Obtain necessary approvals for the invoice

Initiate payment processing according to the organization's financial procedures

Maintain a record of all purchase requisitions, purchase orders, invoices, and related documentation

File and organize the documents for easy retrieval and future reference

Ensure compliance with any legal or regulatory requirements for recordkeeping

Periodically review and audit the workflow process to identify areas for improvement and ensure adherence to policies and procedures.