Negotiating price and supply agreements with your vendors is a critical piece of your overall procurement strategy and NetSuite handles both of these natively. Improve buyer efficiency and accuracy and potentially reduce procurement spending by using blanket purchase orders that define a pre-determined price for a set quantity of items you will buy from a vendor during a time period. The Purchase Contracts feature enables purchasing managers and buyers to use contracted terms, pricing, and delivery schedules when purchasing materials so buyers can automatically take advantage of quantity-based terms and discounts based on an annual volume of goods or services purchased.