It is a formal request intended to procure/buy something that is needed by the organization. It is created and approved by the department requiring the goods and services.
A purchase requisition typically contains the description and QUANTITY of the goods or services to be purchased, a required delivery date, account number and the amount of money that the purchasing department is authorized to spend for the goods or services. Often, the names of suggested supply sources are also included.

Basically, requisitions are of two types:

Internal requisition and purchase requisition

• Internal Requisitions are created if the Items are to be OBTAINED from one Inventory location to another location within the same organization. Here the source of the requisition would be INVENTORY. There is no approval process for internal requisition.
• Purchase Requisitions are created if the goods are obtained from EXTERNAL suppliers. Here the source of the requisition would be SUPPLIERS. The purchase requisitions are SENT for approvals.

It is a formal request intended to procure/buy something that is needed by the organization. It is created and approved by the department requiring the goods and services.
A purchase requisition typically contains the description and quantity of the goods or services to be purchased, a required delivery date, account number and the amount of money that the purchasing department is authorized to spend for the goods or services. Often, the names of suggested supply sources are also included.

Basically, requisitions are of two types:

Internal requisition and purchase requisition