Blanket Purchase Order


Also found in: Acronyms.

Blanket Purchase Order

An order to buy the same good or service regularly. For example, if a company buys 100 barrels of refined oil every day for a year, it may make a blanket order to cover all barrels for the entire year rather than making separate daily purchase orders. A blanket purchase order may specify the period during which it is effective.
Mentioned in ?
References in periodicals archive ?
With the Purchasing module, users can now make blanket purchase orders and indicate or change the vendor to be paid at the point of invoice entry.
Asked about some of the extra effort given by Springfield Label, Edith responds: "They will run an economical quantity of labels and just ship and bill us for what we need, holding the balance of the inventory on their floor until we need it." Because they are reliable, Edith gives them blanket purchase orders (six months to a year, depending on quantities).
Finnish technology group Teleste Corporation said on Friday (10 September) that it had received blanket purchase orders from the Texas Department of Transportation in the US for the delivery of Asynchronous Transfer Mode (ATM) video codec equipment.
When PRG-Schultz conducted a review of an international computer products distributor recently, the audit showed that the company's blanket purchase orders were not reconciled to the related invoices.
The purchasing module can produce purchase requests, purchase orders, blanket purchase orders, and releases against blanket purchase orders.
By implementing best practices such as bar coding, electronic ordering, procurement cards and blanket purchase orders, companies can reap the advantages presented by eProcurement, Not the least of these is that, through self-service capabilities, routine purchasing activities may be performed by the requisitioner.
* Blanket purchase orders for a large percentage of the total buy
The intent of this solicitation is to establish blanket purchase orders for approximately one year with the possibility of renewal.
You need blanket purchase orders with release dates that allow you to negotiate with suppliers and to have materials delivered on demand.