What is budget, funds flow, vendor management

Question

Accepted Answer

Budget is a financial plan, funds flow is the movement of money in and out of a business, and vendor management is the process of managing relationships with suppliers.

Budget is a plan that outlines expected income and expenses for a specific period of time.
Funds flow is the movement of money in and out of a business, including cash inflows and outflows.
Vendor management involves managing relationships with suppliers to ensure timely delivery of goods and services at the best possible price.
Effective vendor management can help reduce costs and improve the quality of goods and services received.
For example, a company may create a budget for the upcoming year, track funds flow to ensure they have enough cash on hand to cover expenses, and manage relationships with vendors to ensure timely delivery of materials for production.