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Sourcing & Suppliers

Preferred Supplier

A preferred supplier is a vendor an organisation has chosen to prioritise for a category of spend, usually under agreed pricing and terms.

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Preferred suppliers earn their status through competitive pricing, reliable performance and a good working relationship. Directing buyers to them concentrates volume, strengthens negotiating leverage and simplifies purchasing because terms, catalogues and contacts are already established.

A preferred-supplier arrangement only delivers value if buyers actually use it; leakage to off-contract vendors erodes the negotiated benefits. Guided buying and catalogue ordering help steer users towards preferred suppliers and away from maverick spend.

Frequently asked questions

What is a preferred supplier?
A preferred supplier is a vendor an organisation chooses to prioritise for a spend category, usually under agreed pricing and terms, to concentrate volume and simplify buying.
How is a preferred supplier different from an approved supplier?
An approved supplier has passed vetting and is allowed to be used. A preferred supplier is one the organisation actively encourages buyers to choose first, often under negotiated terms.

Go deeper

Supplier management guideCorporate procurement software

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