7. VENDOR
• A vendor, also known as a supplier, is a person or a
business entity that sells something. Large retail store
chains such as Target, for example, generally have a list
of vendors from which they purchase goods at wholesale
prices that they then sell at retail prices to their customers.
• A vendor is a person or business that supplies goods or
services to a company. Another term for vendor is supplier.
• In many situations a company presents the vendor with a
purchase order stating the goods or services needed, the
price, delivery date, and other terms. Generally, when the
vendor delivers the goods or services it will also send
an invoice to the company. The company should then
match the vendor's invoice with its purchase order and
receiving report. If the three documents are in agreement,
the company can than arrange for payment to the vendor.