Procurement Planning

Consolidate requisition, Researching vendors, and executing it efficiently


Procurement planning is the process of identifying and planning the acquisition of goods, services, and works necessary to meet the objectives of an organization. It’s the process of determining what to buy, when to buy it, and from whom to buy it. It involves identifying the needs of the organization, researching and evaluating potential suppliers, creating a plan to acquire the goods or services, and then executing that plan.

In particular, it Facilitates a streamlined requisition process to listen for any purchase and sourcing needs. The process starts with a requisition order which is created by employees when they identify a need for goods or services. This requisition order is then sent to various vendors for quotation requests (RFQ). Qualified responses are recorded into the system for review and selection, the process of selecting the best quote among those received. Once a vendor is selected, the awarded quotations are to be converted into a purchase order to be sent to the vendor.

This process is managed by procurement planning function to ensure a cost-effective and efficient manner of acquiring goods and services that meet the needs of an organization.




A requisition is a formal request submitted by various departments within an organization to acquire goods or services. It includes information about the requestor and the item’s specifications, allowing an officer to review the request and identify potential suppliers.

Request Quote (RFQ)

Once a requisition has been reviewed and potential suppliers have been identified, an RFQ (Request for Quotation) is sent to multiple suppliers.

The RFQ is a document that requests suppliers to provide price quotes for the goods or services specified in the requisition. This process is used to identify the best supplier based on price, quality and delivery time.

Vendor Quote

Vendor returned quotes after RFQ, the vendor quotes are saved as new records for review and comparison.

This process may involve negotiating with the suppliers to ensure that the final outcome meets the requirements and quality of the requestor. Once the selection is made, the purchase will be awarded to the selected vendor with a purchase order.

Vendor Catalog

A vendor catalog is a comprehensive compilation of all the quotes received from vendors.

This information is useful for market research and historical price comparison purposes. It allows the organization to track previous quotes and prices, giving them a better understanding of the market and to negotiate more effectively with suppliers in the future.


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Highlights – Streamlined Procurement Process

The Procurement Requisition feature streamlines the management of goods and services requests by providing a centralized system for tracking and evaluating requisition forms.

The process includes the use of a requisition form, submitted by various departments within the organization to acquire goods or services. The requisition forms are reviewed by purchase officers and suppliers are identified based on their offerings. A Request for Quotation (RFQ) can then be generated and sent to multiple suppliers, allowing the organization to easily identify the best options available. The data collected is stored in a vendor catalog for future reference.

With centralized management of the procurement process, businesses can benefit from proper documentation and management of requests, improved budget management and forecasting, and efficient and accurate procurement processes. This can help to improve overall organizational productivity and efficiency.


Complete requisition process cycle

Process Cycle of Purchase Requisition

The full procurement requisition process begins with a department identifying a need for a good or service. In this example, it’s a new coffee machine for guests at a front desk. The department initiates the process by raising a purchase requisition form which specifies the purpose, specifications and perhaps a recommendation of model and preferred vendor.

Once the requisition form is submitted, it is reviewed by a purchasing officer. The purchasing officer performs research to identify multiple vendors that can provide the good or service. They then send out a Purchase Quote Request (RFQ) to these vendors, which includes the item details and specifications, as well as the desired delivery date.

Vendors will then reply with their individual quotes, which are recorded into a vendor catalog database. The purchasing officer will then evaluate the quotes and select the vendor that best meets the requirement in terms of price and service quality.

Once the selection is made, the purchasing officer will place a purchase order with the selected vendor. The purchase order includes the detailed information of the goods, the quantities and delivery schedule. The vendor will then invoice the organization for payment.

Once the vendor confirms the delivery date, the purchasing officer will create a purchase receive document in anticipation of the delivery. The goods are received and checked against the purchase receive document, upon which the document is marked as completed, the goods are then made available for internal usage, sales or distribution.

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