VD stages and Development parameters

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Vendor Development (VD) stages involve identifying potential vendors, evaluating their capabilities, negotiating contracts, and monitoring performance. Development parameters include quality, cost, delivery, and innovation.

Identifying potential vendors through market research and referrals
Evaluating vendor capabilities in terms of production capacity, quality standards, and financial stability
Negotiating contracts to ensure favorable terms for both parties
Monitoring vendor performance based on quality, cost, delivery timeliness, and innovation
Examples: conducting supplier audits, implementing vendor scorecards, and fostering continuous improvement initiatives

VD stages and Development parameters

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