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Vendor management is a term that describes the processes organizations use to manage their suppliers, who are also known as vendors. Vendor management includes activities such as selecting vendors, negotiating contracts, controlling costs, reducing vendor-related risks and ensuring service delivery.
Definition. The Vendor Address entity contains the master set of addresses that are available for use by vendor locations. The VLIN associated with each address represents the vendor location designated as the parent. If a vendor only has one vendor location, it is designated as the parent.
A Master Vendor List (MVL) is a list of vendors adopted by a company or organization in order to standardize the procurement process.
We create the Vendor Master through XK01 Tcode In which 3 window comes General Data, Company Code Data and Purchasing data
Vendor master data, also known as supplier master data, is a record of key vendor information that includes general data, such as the vendor name and address; company code data, such as the payment transaction data; and purchasing data, including the terms of payment, the currency used to order from the vendor, and

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What is the table for vendor master in SAP? The vendor master in SAP is the LFA1 table that stores (Vendor Master (General Section)) data.
The vendor master database contains information about the vendors that supply an enterprise. This information is stored in individual vendor master records. A vendor master record contains the vendors name and address, as well as data such as: The currency used for ordering from the vendor.

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