Vendor Analysis: Definition & Process


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question 1 of 3

What is a vendor?

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1. When is a vendor analysis conducted?

2. What is a SMART goal?

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About This Quiz & Worksheet

Inspect your understanding of vendor analysis with these study tools. Use the quiz by answering questions on certain things like what a vendor is and when a vendor analysis might be conducted.

Quiz & Worksheet Goals

Use the worksheet and quiz to find out how well you know how to:

  • Recognize what a SMART goal is
  • Identify with whom a vendor analysis should be shared
  • Determine how a firm might acquire information about the financial strength of a vendor

Skills Practiced

Use the study tools to practice the following:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on vendor analysis
  • Interpreting information - verify that you can read information regarding how vendor analysis is conducted and interpret it correctly
  • Information recall - access the knowledge you've gained regarding a SMART goal

Additional Learning

Find out more on vendor analysis with this lesson on the subject. The lesson is entitled Vendor Analysis: Definition & Process, and it combines the following study points:

  • Define vendor analysis
  • Assess the goals and guidelines of a vendor analysis
  • Recognize what the needs might be, in addition to certain priorities and deal-breakers
  • Identify how it would work to narrow down the selection of vendors
  • Understand the importance of making a decision with regard to vendor analysis