What is an open/blanket purchase order?
If the department plans to order certain supplies or services throughout the fiscal year from the same vendor, complete a requisition and indicate that it is for an open purchase order. If the order is for supplies, specify if the supplies or books are for teaching, office, or operational. If the order is for facility use, state the purpose (what, why & who) for the use. Indicate the estimated dollar amount for the fiscal year and send it to Accounts Payable. It will be reviewed in Accounts Payable, budget checked in Treasury Management and approved by the Business Office. The requisition will be sent to the Purchasing Department where a purchase order will be processed. Each department needs to track the balance of the open purchase orders to ensure that the amount remaining on the purchase order can cover what is being ordered. If invoices are submitted and there is not enough left on the purchase order, the invoice cannot be paid until the purchase order is increased.
If the department plans to order certain supplies or services throughout the fiscal year from the same vendor, complete a requisition and indicate that it is for an open purchase order for office supplies, books, monthly or quarterly services, etc. Indicate the estimated dollar amount for the fiscal year and send it to Accounts Payable. It will be reviewed in Accounts Payable, budget checked in Treasury Management and approved by the Business Office. The requisition will be sent to the Purchasing Department where a purchase order will be processed. Each department needs to track the balance of the open purchase orders to ensure that the amount remaining on the purchase order can cover what is being ordered. If invoices are submitted and there is not enough left on the purchase order, the invoice cannot be paid until the purchase order is increased.
Related Questions
- Is RSCs blanket exclusion of vehicle purchase an appropriately-developed policy governing the scope of transportation services?
- Whats the difference between a Purchase Order, a Blanket Purchase Agreement, a Contract, and an Agreement?
- Is the IFF applicable to sales under a MAS based Blanket Purchase Agreement (BPA)?
