Overview

This article provides a comprehensive guide to understanding, creating, and managing Blanket Orders in iVendNext.

1. What is a Blanket Order?

A Blanket Order is a type of purchase or sales order that covers multiple deliveries over a specified period. It is commonly used in scenarios where a customer or supplier agrees to a long-term contract, and the exact delivery dates and quantities are not known at the time of order creation. Instead, the buyer or seller issues a Blanket Order, and individual Sales Orders or Purchase Orders are generated as needed.

Key Benefits of Blanket Orders

• Cost Savings: By committing to a large volume of goods or services, businesses can negotiate better rates with suppliers.

• Reduced Administrative Work: Instead of creating multiple individual orders, businesses can manage a single Blanket Order and generate sub-orders as needed.

• Improved Planning: Blanket Orders help both buyers and suppliers plan their inventory and production schedules more effectively.

2. When to Use a Blanket Order

Blanket Orders are particularly useful in the following scenarios:

• Long-Term Contracts: When a customer or supplier agrees to a long-term contract with multiple deliveries over time.

• Bulk Purchasing: When a business wants to take advantage of bulk pricing or discounts.

• Seasonal Demand: When a business needs to secure inventory in advance for seasonal peaks.

• Just-in-Time Inventory: When a business wants to minimize inventory holding costs by ordering goods as needed.

3. Creating a Blanket Order in iVendNext

Creating a Blanket Order in iVendNext is a straightforward process. 

Follow these steps to create your first Blanket Order:

3.1 Prerequisites

Before creating a Blanket Order, ensure that the following are set up:

• Customer or Supplier: The customer (for sales) or supplier (for purchases) must be added to the system.

• Items: The products or services covered by the Blanket Order must be available in the item master with proper pricing and stock details.

• Validity Period: Define the start and end dates for the Blanket Order.

3.2 Step-by-Step Guide to Creating a Blanket Order

1. Navigate to Blanket Orders:

• Go to Home > Selling.

• Click on the Blanket Order shortcut to access the Blanket Order list.

2. Create a New Blanket Order:

• Click on the New button to create a new Blanket Order.

• Select the Order Type (Sales or Purchasing).

• Choose the Customer (for sales) or Supplier (for purchases).

3. Set Validity Period:

• Specify the From Date and To Date to define the validity period of the Blanket Order.

4. Add Items:

• In the Items Table, enter the items, quantities, and rates covered by the Blanket Order.

• You can also specify Terms and Conditions for each item.

5. Save and Submit:

• Click Save to save the Blanket Order as a draft.

• Once all details are confirmed, click Submit to finalize the Blanket Order.

4. Managing Blanket Orders

Once a Blanket Order is created, you can manage it efficiently using iVendNext’s robust features. Here’s how:

4.1 Generating Sales Orders or Purchase Orders

• From a submitted Blanket Order, you can generate individual Sales Orders (for sales) or Purchase Orders (for purchases) as needed.

• The Ordered Quantity field in the Blanket Order will be updated automatically as sub-orders are created.

4.2 Tracking Order Fulfillment

• Use the Dashboard to track the status of all Sales Orders or Purchase Orders generated from the Blanket Order.

• Monitor the Ordered Quantity and Pending Quantity to ensure timely fulfillment.

4.3 Closing or Reopening Blanket Orders

• Once the validity period of the Blanket Order has ended, you can Close it to prevent further orders from being generated.

• If needed, you can Reopen a closed Blanket Order to generate additional orders.

5. Key Features of Blanket Orders in iVendNext

5.1 Validity Period

• Blanket Orders have a defined From Date and To Date, ensuring that orders are only generated within the agreed timeframe.

5.2 Multiple Sub-Orders

• You can generate multiple Sales Orders or Purchase Orders from a single Blanket Order, reducing administrative overhead.

5.3 Real-Time Updates

• The Ordered Quantity field is updated in real-time as sub-orders are generated, providing an accurate view of order fulfillment.

5.4 Integration with Inventory and Accounting

• Blanket Orders integrate seamlessly with the inventory and accounting modules, ensuring real-time updates to stock levels and financial records.