What is Vendor?
A vendor is a person or company that sells goods or services to a business, also called a supplier.
Updated
Meaning
English
A vendor is a person or company that sells goods or services to a business, also called a supplier.
Roman Urdu
Vendor woh hai jo karobar ko maal ya service bechta hai. Isay supplier bhi kehte hain.
Also called supplier, seller.
Example
A cosmetics shop buys creams from two vendors. One gives 15 days credit, the other wants cash on delivery.
What to track per vendor
Keep the vendor's contact, the items they supply, the cost from each purchase and the balance you owe. Compare vendors by price, delivery time and how often goods arrive damaged or short. A good record makes it easy to ask for a better rate at the next order.
In Nafaa
Nafaa stores suppliers with a ledger of purchases and payments, so you can see what you owe each one. See purchasing and accounts payable.
Related terms
- Accounts Payable
Accounts payable is the money a business owes its suppliers for goods or services it has received but not yet paid for.
- Procurement
Procurement is the process a business follows to choose suppliers, order goods or services and pay for them.
- Credit Terms
Credit terms are the conditions on which goods are sold on credit, mainly the number of days allowed before payment is due and any limit or discount for early payment.