History
The term vendor originally represented property vendors. However, today it means a supplier of any good or service. A vendor, or a supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals. A vendor often manufactures inventoriable items, and sells those items to a customer.
Typically vendors are tracked in either a finance system or a warehouse management system.
Vendors are often managed with a vendor compliance checklist or vendor quality audits.
Purchase orders are usually used as a contractual agreement with vendors to buy goods or services.
Vendors may or may not function as distributors of goods. They may or may not function as manufacturers of goods. If vendors are also manufacturers, they may either build to stock or build to order.
'Vendor' is often a generic term, used for suppliers of industries from retail sales to manufacturers to city organizations. 'Vendor' generally applies only to the immediate vendor, or the organization that is paid for the goods, rather than to the original manufacturer or the organization performing the service if it is different from the immediate supplier.
Read more about this topic: Vendor (supply Chain)
Famous quotes containing the word history:
“Those who weep for the happy periods which they encounter in history acknowledge what they want; not the alleviation but the silencing of misery.”
—Albert Camus (1913–1960)
“America is, therefore the land of the future, where, in the ages that lie before us, the burden of the World’s history shall reveal itself. It is a land of desire for all those who are weary of the historical lumber-room of Old Europe.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“Every generation rewrites the past. In easy times history is more or less of an ornamental art, but in times of danger we are driven to the written record by a pressing need to find answers to the riddles of today.... In times of change and danger when there is a quicksand of fear under men’s reasoning, a sense of continuity with generations gone before can stretch like a lifeline across the scary present and get us past that idiot delusion of the exceptional Now that blocks good thinking.”
—John Dos Passos (1896–1970)