Learn about what blanket purchase agreements are, along with the advantages and disadvantages of using them. Also, learn when it's most appropriate to use them.
- Have you heard of blanket purchase agreements, AKA BPAs? … If not, you don't know what you're missing out on. … Okay, in all seriousness, I bet you bought supplies off one … and didn't even realize it. … Remember those break room supplies … you reordered from your company's intranet? … Well, they were probably listed on a BPA. … So what exactly is a BPA, and why is it used? … Well, I'm glad you asked! … In simple terms, a BPA is a purchase order … that a buyer makes with a vendor … that allows them to place future orders … without having to commit to exact dates and quantities. … It's a simplified way to acquire goods … at a predetermined price. … More specifically, BPAs identify terms and conditions, … descriptions of the goods and services to be offered, … pricing for these offerings, and how orders will be placed. … Businesses often use BPAs … if they'll need to purchase something more than once. … Now, a blanket purchase agreement isn't a contract … because it doesn't obligate money …
- Describe the procurement manager’s role in the procurement process.
- Explore the essentials of good communication with vendors.
- Examine the steps in a contract change control system.
- Identify risks that might arise in a project.
- Define the purpose of a closeout meeting.
Skill Level Intermediate
Project Management Foundations: Integrationwith Oliver Yarbrough44m 25s Intermediate
Project Management Foundations: Scheduleswith Bonnie Biafore2h 7m Intermediate
Project Management Foundationswith Bonnie Biafore3h 20m Beginner
What to know before watching1m 27s
1. Procurement Management Overview
2. Common Procurement Pitfalls
3. Critical Procurement Success Factors
4. Procurement Management Processes
5. How to Implement Procurements
6. Emerging Trends: Project Procurement Management
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