What is purchase requisition in SAP (IS-R - SAP for Retail)?

SAP Term: purchase requisition

• Component: IS-R

• Component Name: SAP for Retail

• Description: Retail Optional step prior to the purchase order which, for example, stores use to register a requirement with the distribution center or head office. Purchase requisitions are also created automatically by Requirements Planning for order proposals generated. A purchase requisition results from requisition notes for an account assignment object. It also represents a funds commitment that is converted to a tying up of capital as a result of contractual obligations purchase orders.

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• Key Concepts: 
  Purchase requisition is a document used in SAP for Retail to request goods or services from a vendor. It is created by the requester and sent to the vendor for approval. The purchase requisition contains information such as the item description, quantity, price, and delivery date. Once approved, the purchase requisition is converted into a purchase order. 
  
  How to use it: 
  In SAP for Retail, purchase requisitions are created in the Purchasing module. The requester must enter all relevant information about the item or service being requested. Once completed, the purchase requisition is sent to the vendor for approval. If approved, the purchase requisition is converted into a purchase order. 
  
  Tips & Tricks: 
  When creating a purchase requisition in SAP for Retail, it is important to include all relevant information about the item or service being requested. This will help ensure that the vendor can accurately fulfill the request and that there are no delays in processing the order. 
  
  Related Information: 
  Purchase orders are documents used in SAP for Retail to place orders with vendors. They contain information such as item description, quantity, price, and delivery date. Purchase orders are created from approved purchase requisitions and sent to vendors for fulfillment.