VIN (Vendor Identification Number)

A Vendor Identification Number (VIN) is a unique numerical identifier used by organizations in procurement and data management operations. It serves as an essential “fingerprint” for cataloguing goods, services, and contracts associated with vendors. The VIN is a critical component of any vendor relationship, allowing for the identification and tracking of orders, invoices, payments, collections, inquiries, and other supply chain activities. By utilizing the VIN, businesses can efficiently manage vendor information and ensure that all transactions are transparent and secure.