Identification should include resources and locations for potential vendors and suppliers, as well as factors to consider when deciding which one(s) to select (e.g., numbers and types of vendors/suppliers needed, reliability, proximity, services offered, delivery schedules, costs).
Process/Skill Questions:
- How can a business's products or services affect vendor/supplier selection?
- How does a business determine the quality of goods to purchase?
- How can an entrepreneur decide how many vendors/suppliers to use?
- What is the advantage of buying from a single supplier? From several suppliers?
- How can the choice of vendor/supplier affect the entrepreneur's business, sales, or customer relationships?
- How are buying/purchasing policies developed?
- How does the size and type of business affect its buying/purchasing policies?
- How might treating vendors kindly prove beneficial for the retailer?
- What factors best facilitate effective buyer/vendor relationships? Why?