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These are the different types of purchase orders: Purchasing on the Basis of Need, Purchasing on the open market Purchasing on the open market Purchasing on the open market Purchasing on the open market, and purchases for a Specific Future Period Purchases for a Specific Future Period Purchases for a Specific Future Period Purchase. Visit https://blog.zaperp.com/types-of-purchase-orders/ for more details.
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Different Types of Purchase Orders 1. Standard Purchase Order Standard purchase orders are the most used type of PO and the easiest to understand. The use for a standard PO often falls under the need for sporadic purchases, one-off orders with specific requirements. 2. Planned Purchase Order Planned purchase order (PPO) differs from a standard PO in that delivery information is omitted. Thus the delivery date and location for each item are not included when creating one of these documents, but all other details like what items will be purchased, the number of units of a product to be purchased, and also the price at which it’ll be purchased can be committed to the buyer. 3. Blanket Purchase Order Blanket purchase order, or “standing order”, is a type of purchasing arrangement that can be helpful for businesses with regularly recurring needs. Unlike a PPO, which excludes delivery information and quantity details, the blanket purchase order (BPO) also omits item price. 4. Contract Purchase Order The function of a contract purchase order (CPO) is exclusive as a set of legally binding reference terms to subsequent POs referencing that CPO will be bound by. In addition, unlike with planned and blanket purchasing where you can list what items are needed in advance, these particulars must remain omitted from any arrangement made under a CPO. Blog.zaperp.com
