Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
Blanket Purchase Order
A blanket order is defined as an order the customer makes with its supplier that contains multiple delivery dates scheduled over a period of time, sometimes at predetermined prices. It is normally used when there is a recurring need for expendable goods. Hence, items are purchased under a single purchase order (P.O.) rather than processing a separate P.O. each time supplies are needed. See also Blanket Order, Standing Order.
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Blanket Release
An authorization, similar to a purchase request, which is used to confirm a customer's agreement to produce or deliver products identified in an earlier blanket P.O. agreement or contract.
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Blockchain
A distributed software network that functions both as a digital ledger and a mechanism enabling the secure transfer of assets without an intermediary.
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Bottleneck Products/Services
One of the four Kraljic Matrix spend category segmentation classifications. Bottleneck products/services are items that represent a relative limited value in terms of money but they are vulnerable with regard to their supply. Often bottleneck products/services can only be obtained from one supplier.
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Blanket Purchasing Agreement (BPA)
A US Government Service Administration buying schedule for buyers and sellers which denotes not only that prices have already been determined to be fair and reasonable but goes a step further by determining the terms under which goods and services will be provided and possibly establishing a single source to deliver them over a period of time.
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Bloc
A group of countries acting together for political or economic goals; an alliance (e.g., the eastern bloc, the western bloc, a trading bloc).
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Blockchain technology
An encrypted network that stores records of a transaction and communicates this to all other nodes points within the network
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Bottleneck
A specific stage in a process which slows down the flow of production and limits the overall output rate
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Bottom line
An accounting term meaning a company’s income after all expenses have been deducted from revenues
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Brand
The image of an organisation. The name, logo, slogan, colours, etc., that differentiate it from the competition
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