Blanket Order
A blanket order is a long-term purchasing agreement with a buyer for regular deliveries of identified items at fixed rates within a specified time frame.
Based on a blanket order, sales orders can be created according to the delivery schedule offered by the buyer. Blanket orders enable buyers to avoid keeping materials in large quantities while they can avail themselves of fixed rates by committing volumes within a given time frame.
To access Blanket Order, go to:
1. Prerequisites
Before generating and utilizing a blanket order, you are recommended to develop the following in advance:
2. How to Create a Blanket Order for Sales and Purchase
Proceed to the Blanket Order list, select New.
Choose Selling/Purchasing under Order Type.
Choose Customer/Supplier.
Specify the order validity period by choosing From Date and To Date.
Enter the Item Code, Quantity and Rate in the Item table. You can also refer to the Terms and Conditions for every item.
Submit.
3. Features
3.1 Create Sales Orders
The 'Ordered Quantity' field will be updated once a sales order is submitted. Once a blanket order is submitted, you can add new sales orders by clicking on Sales Order under the Create option.
3.2 Create Purchase Orders
The 'Ordered Quantity' field will be updated once a purchase order is submitted. Once a blanket order is submitted, you can add new purchase order by clicking on Purchase Order under the Create option.
3.3. Create Quotations
After a blanket order has been submitted, you may generate new quotations by clicking on Quotation from under the Create button.
3.4. Dashboard
You can view purchase orders, sales orders, and quotations against this blanket order via the dashboard.
Note- Multiple Sales Orders, Purchase Orders, and Quotations can be created against one Blanket Order. Those Sales/Purchase Orders or Quotations can be processed further as per the regular Selling or Procurement cycle. But, there is no provision to close the Blanket Order.