Question

What is a​ long-term purchase commitment to a supplier for items that are to be delivered against​ short-term releases to​ ship?.

Answer 1

Blanket orders are a long-term investment commitment to a supplier for items that are to be provided against short-term waivers to ship.

What is meant by blanket order?

A blanket order is a acquisition order the campus end user makes with its supplier that includes multiple delivery dates over a period of time, bargained to take advantage of predetermined pricing.

Also known as standing orders, blanket buy orders are used when a business needs the same goods on a frequent basis over a specified term, such as an entire year. The delivery schedule may/may not be predetermined.

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