Bob Chum is the sales manager at Folding Squid Technologies.At lunch with the company CEO,he proudly announced that he had negotiated a(n)________ with a client that defined a long-term commitment to buy components from Folding Squid.

Question

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A blanket purchase order is a long-term agreement between a buyer and a supplier that outlines the terms and conditions of the purchase, such as quantity, price, and delivery schedule. This type of agreement is suitable for ongoing or recurring purchases, and allows for flexibility in ordering and pricing. A purchase order is similar, but typically covers a single transaction. Evaluated receipt settlement and vouchers are not related to purchase orders.

Bob Chum Is the Sales Manager at Folding Squid Technologies