Question

1. describe supply purchasing and the management of petty cash

short answer

1. how is a blanket purchase order used?

1. what does consumable mean?

Explanation:

1. A blanket purchase order (BPO) is a long-term agreement with a supplier for repeated purchases of goods/services over a set period, often with predefined terms (price, quantity limits) to streamline ordering.
2. Consumable refers to goods that are used up or depleted in the course of normal business operations and need regular replacement (e.g., office supplies, raw materials for production).

Answer:

1. A blanket purchase order is used to establish a long-term purchasing agreement with a supplier for recurring purchases of specific goods or services, with set terms (like price or quantity caps) to simplify repeated ordering without creating new purchase orders each time.
2. Consumable means goods that are consumed, used up, or exhausted during regular business activities and require frequent replenishment.