A purchase requisition is a formal request made within an organization to acquire goods or services. It typically includes details such as the item description, quantity needed, and the reason for the purchase. This document is essential for maintaining control over spending and ensuring that all purchases are necessary and approved. Once a purchase requisition is submitted, it usually goes through an approval process involving relevant departments or managers. After approval, it can be converted into a purchase order, which is sent to suppliers to fulfill the request. This process helps organizations manage their budgets and streamline procurement.