What does blanket order mean?

Definitions for blanket order
blan·ket order

This dictionary definitions page includes all the possible meanings, example usage and translations of the word blanket order.

Wikipedia

  1. Blanket order

    A blanket order, blanket purchase agreement or call-off order is a purchase order which a customer places with its supplier to allow multiple delivery dates over a period of time, often negotiated to take advantage of predetermined pricing. It is normally used when there is a recurring need for expendable goods. Blanket orders are often used when a customer buys large quantities and has obtained special discounts. Based on the blanket order, sales orders ('blanket releases' or 'release orders') and invoice items can be created as needed until the contract is fulfilled, the end of the order period is reached or a pre-determined maximum order value is reached.

Wikidata

  1. Blanket order

    A blanket order is a purchase order the customer makes with its supplier which contains multiple delivery dates scheduled over a period of time, often negotiated to take advantage of predetermined pricing. It is normally used when there is a recurring need for expendable goods. Items are purchased under a single purchase order or PO rather than processing a separate PO each time supplies are needed. Having a blanket order prevents the customer from having to hold greater than necessary amounts of stock and avoids the administrative expense of processing frequent purchase orders, while favoring discount pricing through volume commitments or price breaks. A blanket order is set at a fixed price contract for a period of time. The buyer looks for the best pricing among competing supplier bids. After the best one is chosen, the prices of goods are fixed, and also quantities of each products are given to the supplier to prepare stock for on requested delivery. Forecasted quantity is provided by the buyer as full usage quantity recorded historically few years or as needed for quantitatively analysis. The supplier may give a condition of quantity to supply for this contract. For example, 80% of the forecast quantity must be bought at the end of the contract, which may be one or two years.

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Numerology

  1. Chaldean Numerology

    The numerical value of blanket order in Chaldean Numerology is: 6

  2. Pythagorean Numerology

    The numerical value of blanket order in Pythagorean Numerology is: 8


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"blanket order." Definitions.net. STANDS4 LLC, 2024. Web. 17 Jul 2024. <https://www.definitions.net/definition/blanket+order>.

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    A serendipity
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