Procurement - Concept
Vendor
An outside organisation that supplies products or services to your organisation
What's it for?
Provides a product or service that an organisation depends on or buys from.
For example…
The company supplying your staff system is a vendor
Microsoft is a vendor when a company buys Microsoft 365 licences and relies on it for the ongoing service and support
Think of it like…
The shops and trades you depend on to keep a household running—each with different importance if they vanish tomorrow