What Is Vendor Empanelment And How We Can Make It Successful

Hi All,
I had gone for an interview where the interviewer asked me about "Vendor Empanelment". I had a very smal and limited exposure on it so couldnt explain it much. Please help me understanding this and the steps which can help to make it successful
Thanks in advance.

Dear Shilpi Chakraborty
Vendor Empanelment is done by Corporates as a preparatory work before executing projects or to meet regular annual consumption of supplies.
This exercise is done to save time from those executing the project. The vendors in the panel are also prepared to get the order and they can do their home work. Vendor evaluation and acceptance are important related activities.
The procedure may be elaborate.
Please see a typical document downloaded from Google.
It will dispel most of your doubts once you go through the same.
V.Raghunathan