In plain English
A supplier can be on record with an organization without having this status. This status means the organization has formally accepted that supplier as suitable for the specific goods or services named.
In context
Here, "approved vendor" classifies a supplier as one the organization has formally accepted as suitable to provide the specified goods or services for purchasing.
- Situation
- Running procurement, vendor review, purchase approval, and contract workflow
- What it communicates
- classifies a supplier as cleared for use in purchasing
Meaning limits
By itself, this status does not establish that the supplier is accepted for all goods or services or that any purchase will happen.
Examples
“Although the clinic had the supplier on file, it was not an approved vendor for surgical masks.”
“The committee added the cleaning company as an approved vendor for window washing.”