Vendor Validation for PARACETAMOL

Vendor is the important constituent in the supply chain & supply chain management is truly vendor management. Supply chain management can be defined as a set of approaches being used effectively to integrate suppliers manufacturers warehouses& stores so that the goods/product can be produced & distributed at right quantities to the right location and at right time in order to minimize system-wide costs while satisfying (1) service level requirements. The primary goal of supply chain management is to coordinate the flow of raw materials parts and/or components from various suppliers to manufacturer/purchasing company with the purpose of producing product that meets customer’s expectations. The study on supplier selection started even long before since 1960s. Thestrategy of suppliers became so unpredictable that a new technology namely just in time(JIT) developed where the manufacturing plant either owns its suppliers or suppliers areoutsourced under a common understanding that they are always ready to supply thematerials required by the manufacturing plant in time.