Approved Supplier Definition and Explanation PDF | Download eBooks

Learn Approved Supplier definition in project management with explanation to study “What is Approved Supplier”. Study approved supplier explanation with project management terms to review project management course for online MBA programs.

Approved Supplier Explanation:

When two or more individuals, parties, functions or organizations work together to achieve a common goal or objective, it is called partnership. Organization work together with other organizations or with other functions of the same organization, usually in complex projects. Partnership can be internal and external. External partnership refers to building relationships with people or organizations from the outside. Outsourcing is a type of external partnership. There are three types of external partnerships in case of outsourcing. One of them is called approved supplier. Approved supplier is a supplier selected on the basis of a proposal or a quotation after a bidding process. The benefits in this type of partnership are limited and the approved supplier does not have the guarantee to be working for the project or the organization in future. Suppliers are usually approved for a specific project.

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