Question

Types of Purchase Order
What are the types of purchase order?

Answer 1

Different organizations can have different names and definitions for the purchase orders...

1. Regular or standard purchase order --- for one time purchase of goods.
2. Blanket purchase order - based on which multiple or periodic purchases are done, delivery schedules are not mentioned.
3. contract purchase order - in which the contract is made but the materials and other details are not yet specified.
4. planned purchase orders -  a long term purchase order - in which the schedules, materials, conditions are all worked out for a long time.

Answer 2

A purchase order (PO) is an official document generated by a buyer of goods/services as an offer for the seller. It becomes a “legal document of contract” once the seller accepts the purchase order. There are mainly 4 different types of purchase orders;

1.Standard PO
2.Contract PO
3.Blanket PO
4.Planned PO