A general practice whereby the buyer negotiates a purchasing arrangement, including price, for a group of items for a predetermined time period, and the supplier holds the inventory until the buyer places orders for specific items. Blanket orders, open-end orders and systems contracts can be used as a stockless-purchasing technique.
A general practice whereby the buyer negotiates a purchasing arrangement, including price, for a group of items for a predetermined time period, and the supplier holds the inventory until the buyer places orders for specific items. Blanket orders, open-end orders and systems contracts can be used as a stockless-purchasing technique.