How you do purchase planning. What is process of vendor development in company?

Question

Accepted Answer

Purchase planning involves forecasting demand, identifying suppliers, negotiating contracts, and ensuring timely delivery. Vendor development process includes identifying potential vendors, evaluating their capabilities, and establishing long-term relationships.

Forecast demand based on historical data and market trends
Identify potential suppliers through market research and referrals
Negotiate contracts to secure favorable terms and pricing
Ensure timely delivery by monitoring inventory levels and production schedules
Vendor development involves assessing vendor capabilities and capacity
Establish long-term relationships with key vendors to improve collaboration and efficiency

How you do purchase planning. What is process of vendor development in company?

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