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Business Terms
Vendor
Definition
A business or person that sells goods or services to another business.
Overview
Vendors supply products or services to other businesses. Managing vendor relationships affects costs, quality, and operational efficiency.
Example
A company's vendors include software providers, office suppliers, and freelance contractors.
Best Practices
Evaluate vendors on price, quality, and reliability. Maintain good relationships for better terms.
Common Mistakes to Avoid
Not comparing vendors
Poor payment practices
Over-reliance on single vendor
Frequently Asked Questions
How do I choose good vendors?
Compare pricing, check references, evaluate reliability, and start with small orders.