You searched for: supplier

Supplier

VPF's term for entities that provide goods or services to MIT. See Supplier Search for a list of MIT's Preferred Suppliers.

Definition

Supplier Search

The Institute’s online directory of Preferred and Internal suppliers can be searched by commodity or by supplier name. By using Supplier Search, DLCs can find suppliers that will help reduce purchasing costs, optimize product and service quality, and streamline ordering.

When you use MIT’s Preferred Suppliers for your DLC’s purchases there is no need to fill out a Selection of Source Form, no matter the amount of the purchase.

Note: Although Preferred Suppliers provide negotiated pricing for most items within their commodity, some goods and/or services may be excluded and a Selection of Source form would then be required. Review the individual suppliers’ page on VPF Supplier Search for a list of exclusions.

Definition

Preferred Supplier

Preferred Suppliers are selected through a formal sourcing process. These suppliers have multi-year contracts in place with MIT that feature negotiated pricing, terms, and conditions. For purchases from Preferred Suppliers, MIT's competition requirements are met and a Selection of Source Form is not required. Although Preferred Suppliers provide negotiated pricing for most items within their commodity, some goods and/or services may be excluded and a Selection of Source form would then be required. Review individual supplier pages on VPF Supplier Search for exclusions.

Definition

Vendor

Someone who sells something; the seller in a business transaction. VPF uses the term Supplier.

See Supplier Search for a list of MIT's preferred suppliers.

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SmartBuy

See  Supplier Search

SmartBuy was retired in July 2016 and replaced by Supplier Search.

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Purchase Manual

A document that stipulates rules and prescribes procedures for purchasing with suppliers and other departments.

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Lead Time

The time that it would take a supplier to deliver goods after receipt of order.

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Strategic Sourcing

A VPF Business Unit that finds and sources the most appropriate suppliers of goods and services to met MIT's complex purchasing needs.

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Sole Source

An acquisition where, after a search, only one supplier is determined to be reasonably available for the required product, service or construction item.

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Business

A contractor, subcontractor, supplier, consultant, or provider of technical, administrative, or physical services organized as a sole proprietorship, partnership, association, corporation, or other entity formed for the purpose of doing business for profit.

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