Vendor
A vendor is an individual or business that sells goods or services to another entity. They can be suppliers, manufacturers, or retailers, depending on their role in the supply chain.
Key points about vendors:
Supply chain role: Vendors are essential components of a supply chain, providing necessary goods or services.
Business-to-business (B2B) relationships: Typically, vendors sell to other businesses, rather than directly to consumers.
Contractual agreements: Vendor relationships often involve contracts outlining terms, conditions, and pricing.
Vendor management: Businesses often manage vendor relationships through a dedicated department or process.
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