A vendor is an individual or company that provides either services or products to other individual or organizations. The term vendor is also used for the same purpose. The consumer or user, on the other hand, is the one who buys these services or products from the vendor.
The process of buying, however, is a detailed one. It is spread over many steps. The whole process can be influenced by a lot of factors. After studying the consumer behavior or the market trend, a company would want to place the necessary order. For this purpose, usually, an ad is placed for the vendors of the related products to send their price proposals.
Once the company receives these proposals, they start the next step which is to compare all the prices, quality, quantity and other factors the vendors are offering to choose what suits the company best. For this process to work efficiently and effectively, a vendor comparison list is used. A vendor comparison list is in a form of a sheet. It will have columns and rows which will explain the details more easily.
The first column will bear the name of the vendors who sent the proposals. Next should come to the description of the services or products that they are offering in front of their names. In order to choose the best vendor, other details must also be put into consideration. These details may include the year their business had established and their rating in the market. Other than the number of offices, prices, and duration of delivering they are asking, it should also discuss the number of facilities they are offering to the company and the process of delivery.
Most of the companies use a template for vendor comparison list, this ensures that all the important details are discussed and all in the right and professional format. All the user is expected to do is to download a ready-made vendor comparison list and edit it accordingly. Once the data is entered, it will get easier for the user to choose which company will deliver better and at best price.
Comparison List For Vendor