Can we have one Blanket PO for multiple Suppliers?

My requirement is to distribute approved allocated fund to multiple Blanket PO's to realize the fund to multiple vendors and have a Master Blanket PO to maintain the approved fund so that decrement or Increment of revised fund can be track and fund can be transfer from One Blanket to another Blanket if needed.

To achieve this requirement we need to create one Master Blanket PO to have approved fund on it and each release can be created for different vendors to make the payment by receiving and creating an Invoice in Payables again each release for different vendor.

Is any body have Implemented solution for similar requirement in any module in Oracle EBS R12?