Selecting a vendor is probably one of the most nerve wracking but
crucial activities a business must undertake. Your vendors will be
delivering your direct purchases – those that you use to produce the
products you sell and your indirect purchases – those that keep your
business running effectively.
When you are selecting a potential vendor, you are selecting a partner in your business and you will trust them to work with you in a professional and profitable manner. It is important that you chose a company that can supply your requirements now and for the near future.
It would be particularly difficult to obtain good terms if you need to purchase just a small range from another supplier, because your chosen vendor was unable to supply the complete range.
As you can see there a considerable amount of criteria to consider when selecting a vendor but then it is an important undertaking that will make a considerable impact on the success of your business.