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Enterprise Marketing — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEnterprise Marketing3 Marks
Question
What are the common activities relating to vendor management?
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Answer

The common activities relating to vendor management are as follows:
  1. Researching about vendors.
  2. Obtaining quotes.
  3. Negotiating contracts.
  4. Evaluating performance.
  5. Creating and updating vendor files.
  6. Ensuring that payments are made properly and promptly.

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