Purchase Indent is an internal document used by companies to authorize the requisition of purchase of raw materials, consumables, capital items, etc. needed by the company. It is usually prepared by the store-in-charge for the replenishment of stocks or by end-users of the department for new requirements. It provides detailed information about:
After Purchase Indent is prepared, it is forwarded to concerned approvers, one or many depending on the process of each company, as well as the value of the purchase indent. Usually, relevant department users, stores department, finance authorities, management representatives are involved in the approval of a Purchase Indent. Only when it is validated and approved by the concerned authorities, it is sanctioned for creating a Purchase Order.