Vendor Development
The primary responsibility of a purchasing manager is to search for and identify a list of potential suppliers (or vendors) on an ongoing basis. He should search for suppliers who are capable of supplying products that meet the firm's requirements, both quantitatively and qualitatively. The purchasing manager can use Yellow Pages, which list vendors and their product range and activities. The purchasing manager can also get information from various web sites, newspapers, business journals, industrial associations, etc. A database of the list of vendors should be maintained item-wise.
Then, the purchasing manager can check specifications of products and examine their quality. Though the technical specifications and other requirements are checked by the respective departments, the purchasing manager should ensure that the sources of supplies are stable, reliable and capable of fulfilling the quantity requirements of the firm from time to time.
To achieve this, the purchasing manager and his team, conduct periodic supplier surveys in which the suppliers' ability to meet the supply requirements in terms of cost, quality and quantity are assessed. These visits and surveys help the purchasing firm assess the vendors' abilities.
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