Which of the following best describes the lifecycle of a Purchase Requisition in GFEBS?

The lifecycle of a Purchase Requisition in GFEBS is aptly described by the stages of creation, approval, and fulfillment. Initially, a Purchase Requisition is created when a requestor identifies a need for goods or services. This phase encompasses detailing the required items, quantities, and potential sources.

Once created, the requisition moves to the approval stage, where it is reviewed by designated authorities to ensure that the request aligns with the organization's policies, budget constraints, and procurement regulations. This approval process is crucial for maintaining oversight and accountability in federal spending.

After gaining approval, the requisition proceeds to the fulfillment stage, where the actual procurement process occurs. This could involve generating purchase orders, obtaining the goods or services, and ensuring they are received in accordance with the terms specified in the requisition.

This sequence accurately reflects the structured approach taken within GFEBS for managing purchase requisitions, emphasizing the importance of each stage in ensuring that organizational needs are met efficiently and effectively.