Vendor Rating

  • A supplier is any person or company that sells goods or service to someone else in an economic production chain.
  • Vendors or suppliers are given standing, status, or title according to their attainment of some level of performance, such as delivery, lead time, quality, price, or some combination of variables.
  • It may take the form of a hierarchical ranking from poor to excellent and whatever rankings the firm chooses to insert in between the two.
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