I have a custom object and inside that there is this standard field named Record type. It is a picklist. There are 4 options in the picklist and by default it is set to Drop Ship Purchase Order. I want to change that to Internal Purchase order. I don't see any picklist option here.
The default record type is defined per profile. So for each profile you want you use, go to the object settings for the object and choose the "Default Record Type".