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A vendor is a person or company that sells goods or services to customers. They play a crucial role in the supply chain by providing products that meet the needs and demands of consumers. Vendors can be found in various industries, such as retail, manufacturing, and e-commerce. They are responsible for sourcing, purchasing, and delivering products to customers, ensuring that they are of high quality and meet the required specifications. Accounts receivable (AR) refers to the money owed to a company by its customers for goods or services that have been delivered but not yet paid for. Managing AR is essential for maintaining a healthy cash flow and ensuring timely payments from customers.