For example, a construction company with regular scheduled work must order the same raw materials every so often, or an office building might need cleaning services every few weeks.īoth sides agree on a set price and an order period. The result is less invoice processing time and a more consistent delivery schedule. Such an order greatly simplifies logistics and planning for both companies, as multiple invoices can be categorized under a single blanket PO. What is a Blanket Purchase Order?Ī blanket purchase order, a long-term contract with a specific supplier, helps businesses efficiently order the same shipment of goods from a single vendor at regular intervals. Read on to learn how to make blanket purchase orders work for your business’s purchasing and procurement processes. We’ll also include some best practices and other tips to issue purchase orders in the most efficient way.īlanket purchase orders will increase the efficiency of your accounts payable process, which many businesses identify as a pain point. This guide will provide a comprehensive dive into the concept, as well as the general context and process around it. A blanket purchase order (BPO), also known as a standing purchase order, can be an extremely valuable type of PO to get familiar with.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |