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How to Create a Standing Limit Order

Limit orders should be created for purchases of services or supplies over a period of one year where the invoice amounts are variable. A limit order is set up for what the total value should cost. Multiple invoices will be processed over time against a limit order.

Things to remember

• Limit orders typically do not get mailed to suppliers.
• Limit orders should not be created for catalog suppliers.
• You cannot add dollars to a limit order.
• Do not select a supplier for the LIMIT item. (However, you can request one in the Internal Note). After all approvals are obtained a Sourcing and Procurement Buyer will assign the supplier.

  Here are the Limit Order Work Instructions for creating a limit order.

This entry was posted on Thursday, August 25th, 2011 at 11:55 am.