Requisitions and Requests for Price Quotes

Use the Purchasing application to create purchase requisitions and requests for price quotes, which help you decide whether items and services are necessary and how much they cost before you send a purchase order for those items or services.

• Purchase Requisition: The buyer sends a purchase requisition to an internal approver to seek permission to purchase an item or service.

• Request for Price Quote (RFQ): The buyer sends a request for price quote to one or more vendors to ask for an estimated price on a specified item or service, for purposes of comparing prices.

Status Codes

All requisitions and requests for price quotes have status codes that show their current state of completion.