Question

The three stages of vendor selection, in order, are:______.

a) vendor evaluation, vendor development, and negotiations.
b) vendor development, vendor evaluation, and vendor acquisition.
c) introduction, growth, and maturity.
d) vendor evaluation, negotiations, and vendor development.
e) edi, erp, and asn.

Answer 1

The three stages of vendor selection are vendor evaluation, negotiations, and vendor development, where each stage focuses on assessing potential vendors, discussing terms, and improving the vendor's processes for a long-term relationship.

Step-by-step explanation:

The process of selecting a vendor typically involves multiple stages that ensure a business selects the right partner for its supply chain and operational needs. The three stages of vendor selection, in the correct order, are: vendor evaluation, negotiations, and vendor development.

• Vendor evaluation is the process of assessing potential vendors based on criteria such as their product quality, reliability, price, and service.
• The negotiations stage involves discussing terms and conditions, pricing, and service level agreements.
• Finally, vendor development is the phase where the selected vendor's processes are potentially improved to meet the buying organization's requirements for a long-term relationship.

Therefore, the correct answer to the question is (a) vendor evaluation, vendor development, and negotiations.