Understanding the Requisition Life Cycle Concept Understanding the
- Slides: 8
Understanding the Requisition Life Cycle Concept
Understanding the Requisition Life Cycle
Understanding the Requisition Life Cycle Step 1 The requisition life cycle begins with a request for goods or services from someone in your organization. A requester must then enter the requisition and forward the requisition to the person or persons responsible for approving the accounting distribution and amounts. However, requisition approval is optional. After the requisition is approved, it is sourced to suppliers.
Understanding the Requisition Life Cycle Step 2 Sourcing is the process of creating purchase orders from requisitions. The requisition selection can be performed either manually or automatically. Automatic requisition selection moves requisitions to a staging table. After the requisitions are moved to the staging table, you can run the PO Build process to create the purchase orders.
Understanding the Requisition Life Cycle Step 3 The status of the corresponding purchase order that is related to the requisition can be cross-referenced and checked at any time during the procurement process.
Understanding the Requisition Life Cycle Step 4 A requisition in People. Soft Purchasing can have one of five statuses during its life cycle. The table below explains each of the statuses.
Understanding the Requisition Life Cycle Step 5 In summary, an approved requisition is sourced to suppliers. The requisition selection can be performed either automatically or manually. After requisitions are moved to a staging table, you can run the PO Build process to create purchase orders.
Understanding the Requisition Life Cycle Step 6 You have completed the "Understanding Requisition Life Cycle" topic. End of Procedure.
