What is a supplier portal?
A supplier portal, also known as a vendor portal, is an integrated online platform shared by businesses and their vendors. The supplier portal is used for entering supplier information, submitting documents, displaying status, and communicating. Supplier Name means the name of the entity providing the product or service that is part of the contract requirements. This could include any entity involved in producing products or services that are part of the contract.
What are the five types of vendors?
A vendor is a person or business that purchases goods and services from distributors and resells these items to consumers or other businesses. The five types of vendors are manufacturers, wholesalers, retailers, service and maintenance providers and independent vendors and trade show representatives. The types of vendors include manufacturers, retailers, wholesalers, and service providers.
What are the 7 Rs of procurement?
So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price. It consists of designing, planning, managing, implementing, and tracking the activities associated with the supply chain. Before describing 7R briefly, the R written above denotes, Right Product, Right condition, Right quantity, Right Place, Right customer, Right price, and Right time.