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World Class Procurement Definitions A forum for defining key terms / definitions as it applies to World Class Procurement and Supply Chain Management

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  #1  
Old 06-18-2007, 11:46 AM
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hansby_j is on a distinguished road
Default Supplier definitions

Can you please provide a
definition for an approved supplier and a preferred supplier. Is there a
difference from a Supply Chain perspective?
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  #2  
Old 06-18-2007, 03:55 PM
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Default Re: Supplier definitions

Depends on the context.
One definition is that the Preferred Supplier is designated as such until negotiations with them are complete. They become "preferred" after a competitive bidding process and are selected as the preferred supplier against the other potential suppliers. When negotiations are complete and the contract is signed, they then become an Approved Supplier.
The company that comes "second" in the bidding process can sometimes become the Reserve Supplier in case negotiations fail with the preferred bidder.
There may be other perspectives.
Hope this helps.
ShaunCScott
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