Answer to Question #266116 in Marketing for Saif

Question #266116

a. Oftenly we hear debate that Purchase Requisition is whose responsibility? What do you think? Explain Purchase requisition and its types. Why PR is one of the critical steps of P2P cycle?

3.b. What are various types of Pricing Contracts; why they are used? Explain types, sub types and difference between them in terms of responsibility of buyer or seller.

Expert's answer

Question a

When workers see a need, they can raise purchase requests to obtain the commodities or services. The requester is responsible for filling out the purchase requisition form legibly and accurately. Purchase requisitions are internal paperwork provided by workers to begin the process of making a purchase. A buy order is issued to a supplier to order the goods/services in question once the transaction has been approved by the appropriate person or department—requisitions for Purchase. To generate requisitions, go to the Requisitions window—internal Requests. Internal requisitions are provided from internal sales orders instead of buy requisitions, which are supplied via purchase orders.

Question b

  • Fixed-price contract.
  • Cost-reimbursement contract.
  • Cost-plus contract.
  • Time and materials contract.
  • Unit price contract.
  • Bilateral contract.
  • Unilateral contract.
  • Implied contract.

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