Table of Contents
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Supplier Management covers to the acquisition of products and product components in support of service offering. Suppliers may take many forms depending on business needs, including in-house vendors (i.e., vendors that are in the same organization but are external to the project), fabrication capabilities and laboratories, and commercial vendors. A formal agreement is any legal agreement between the organization (representing the project) and the supplier. This agreement may be a contract, a license, or a memorandum of agreement. The acquired product is delivered to the project from the supplier and becomes part of the products delivered to the customer.
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