Purchase Requisition means a request to the procurement department to purchase goods or services in the specified volumes and within the specified time frame. In Acquirell, it is an internal company document that is created only from approved requirements. Requisitions are intended to determine how requirements can be addressed. Requisitions can be sent to the system’s internal e-marketplace for sourcing, sent to a particular supplier as a PO, or generally satisfied with offline purchasing.
Purchase Order means an order to a supplier for a certain amount of goods on specific terms and conditions at certain times. In Acquirell, a purchase order is an electronic document containing order details and delivery terms. It is sent to the supplier by the sourcing exec.
Accreditation means a procedure for evaluating potential bidders according to specific criteria to select suppliers that meet certain standards. In Acquirell, it is an electronic procedure that allows suppliers to qualify and confirm their ability to participate in sourcing events to supply specific goods or services. It is held to generate a list of preferred suppliers from companies that meet the specified requirements.