In the procurement cycle, what is typically done after creating a purchase requisition?

After creating a purchase requisition, it is typical to conduct a managerial review before progressing to the next steps in the procurement cycle. This review is an important control measure within the procurement process. It allows management to validate that the requested items or services are necessary, that they align with budgetary constraints, and that they comply with organizational policies.

During this managerial review, approval may also be sought, ensuring that the procurement aligns with the overall strategy and procurement policies of the organization. Only after the requisition is approved can the process move forward to creating a purchase order or taking further actions, such as notifying vendors.

While options like goods delivery, purchase order creation, and vendor notification are relevant in the procurement cycle, they typically occur after the managerial review has been completed. Therefore, the managerial review stands as a crucial step in ensuring the effectiveness and accountability of the procurement process.