Release Slip - An Overview

Release Slip (RS) is an ordering document like Purchase Order (PO), which is used to place orders on a Supplier against  a Blanket Purchase Order (BPO).

Blanket Purchase Order (BPO) is essentially long-term contract or agreement with a supplier, for the supply of certain materials typically low value but high volume consumables/expendables. This kind of long term contracts helps the company in getting a consistent supply of materials with very little chances of delay by the supplier since he is informed well in advance. For the same reason, it helps supplier as well, in planning his resources properly. The Release Slip (RS) is the advice to the vendor to deliver a certain quantity of materials at a specified / stipulated time based on the BPO raised on the supplier.

The Release Slip inherits its rate, value and quantity specifications from the BPO, which it is referring to. Depending upon the status of the RS, the BPO status gets updated.

The Release Slip requires the following vital information for its creation:

•  BPO Number

• Quantity to be ordered

• Delivery date (in case of single schedule)

• Warehouse to which the material has to be shifted

RS provides details to Invoice and "Goods Receipt" business component.

Getting familiar with the activities