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Selecting an appropriate vendor is a key step in the success of an enterprise because vendors directly influence the quality, cost, availability and timely supply of goods required for business operations. In buying and merchandising, vendor selection is particularly important because merchandise must meet the expectations of both the enterprise and its customers. A suitable vendor helps an enterprise maintain competitiveness, profitability and customer satisfaction, while a wrong choice can result in poor quality, delays, excess inventory and financial losses. Vendor selection begins with identifying the requirements of ___ ______ ____ _____ ________ ________ __________ _____ _______ _____.
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