What is Vendor Account?
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.
The individual distribution facilities each bill and collect
separately. Therefore, to request materials using a Purchase Order, customers
must establish separate vendor accounts with their institution for each
facility from which you wish to obtain materials
The party in the supply chain that makes goods and services
available to companies or consumers. The term vendor is typically used to
describe the entity that is paid for the goods that are provided, rather than
the manufacturer of the goods. A vendor, however, can operate both as the
supplier of goods (seller) and the manufacturer.
A vendor is a person or a business entity that sells
something. Large retail stores generally have a list of vendors from which they
purchase goods (at wholesale) to sell (at retail) to their customers. Vendors
can also sell directly to the customer, as seen with street vendors. In
addition, a vendor can provide parts for another business that will be used to
make an end product.
A vendor (pronounced VEHN-door, from French vender, meaning
to sell) is any person or company that sells goods or services to someone else
in the economic production chain. Parts manufacturers are vendors of parts to other
manufacturers that assemble the parts into something sold to wholesalers or
retailers. Retailers are vendors of products to consumers. (When you have a
street fair, the people who set up booths and tables are often referred to as
vendors.) In information technology as well as in other industries, the term is
commonly applied to suppliers of goods and services to other companies.
A machine that takes your money and gives you a product is
known as a vending machine.
