ECONOMICS

Detailed explanation-1: -A bill of materials (BOM) is a centralized source of information used to manufacture a product. It is a list of the items needed to create a product as well as the instructions on how to assemble that product.

Detailed explanation-2: -Bill of material often serves the purpose of a material requisition because it shows a list of all materials required for a particular job, order or process but a material requisition gives a list of materials required by a particular department at a particular time.

Detailed explanation-3: -A material requisition form lists the items to be picked from inventory and used in the production process or in the provision of a service to a customer, usually for a specific job.

Detailed explanation-4: -A bill of material identifies the individual pieces of a product that must be purchased or manufactured. A purchase requisition is the paperwork required to initiate a purchase. A bill of materials or bill of material (abbreviated “BOM") describes a product in terms of its assemblies, sub-assemblies, and basic parts.

Detailed explanation-5: -Definition: A materials requisition form is a source document that the production department uses to request materials for manufacturing process. The production manager usually fills out the materials requisition form and delivers it to the materials or storage department where all of the raw materials are stored.