Difference between a preferred and a single source supplier

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Reference no: EM133643816

Question: What is the difference between a preferred and a single source supplier? A preferred supplier is the only supplier available while a single source supplier is a supplier you do business with exclusively despite the availability of other suppliers. A preferred supplier is in your procurement system while a single source supplier is not. There is no difference. Having a preferred supplier does not preclude the organization from doing business with other suppliers, whereas having a single source supplier relationship does.

Reference no: EM133643816

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