Suppliers

“Suppliers” refers to individuals or companies that provide goods or services to other individuals or businesses. This term is widely used across various sectors, encompassing a broad range of providers from manufacturers and wholesalers to distributors and vendors. Here’s a breakdown of what a supplier typically is and does:

1. Product Suppliers: They manufacture or provide physical goods for other businesses to sell or use. These goods could range from raw materials to finished products.
2. Service Suppliers: These are entities or individuals that offer services instead of tangible goods. Service suppliers might include consultants, professional service providers, maintenance companies, etc.
3. Direct Suppliers: These suppliers provide products or services directly used in the production of another company’s final product.
4. Indirect Suppliers: These are suppliers that provide goods or services that aren’t part of the final product but are necessary for the business operations, like office supplies or machinery maintenance services.

In the context of a business operation, managing supplier relationships is crucial as it affects the quality, pricing, and supply chain reliability, which are all vital for business continuity and success.