Title: Identify sources for locating vendors and suppliers.
Course: Entrepreneurship (12053-I) > Section: Understanding Marketing Principles

Identification should include resources and locations for potential vendors and suppliers, as well as factors to consider when deciding which one(s) to select (e.g., numbers and types of vendors/suppliers needed, reliability, proximity, services offered, delivery schedules, costs).

Process/Skill Questions:

- How can a business's products or services affect vendor/supplier selection?
- How does a business determine the quality of goods to purchase?
- How can an entrepreneur decide how many vendors/suppliers to use?
- What is the advantage of buying from a single supplier? From several suppliers?
- How can the choice of vendor/supplier affect the entrepreneur's business, sales, or customer relationships?
- How are buying/purchasing policies developed?
- How does the size and type of business affect its buying/purchasing policies?
- How might treating vendors kindly prove beneficial for the retailer?
- What factors best facilitate effective buyer/vendor relationships? Why?