How To Reflect Payment Term Updates on Existing Purchase Orders (Blanket Orders) ?
SummaryWe have business scenarios wherein the payment term for long term blanket orders get re-negotiated during the middle of contract lifecycle based on which the payment term needs to be updated on PO
As a part of current procurement process we create blanket orders (12 or 24 months) by using Non Catalog PR --> Blanket Order. There are many instances wherein we re-negotiate the payment terms with vendor before completion of contract, and need to update the payment terms on existing Blanket Order (Order Type = Standard Purchase Order). We have observed that when we update the payment terms on vendor master, the new payment terms don't get reflected on the existing PO which has been 50% consumed. We got a confirmation from oracle that only new PO's can have the newly updated payment