You can define the form of business of the supplier  e.g., corporation or sole proprietorship etc. 

@NGADBOIS  you can select the FORM OF BUSINESS using the list of values. To define the “Forms of Business” , there is a separate window in IFS Application.

This is the Aurena form.

Understood thank you!  That is why it is related to Country as for example a Canadian company could be Incorporated.

Which field would be dedicated to classify the supplier such as:

Office Supply

Consultant

IT Equipment

etc.

@NGADBOIS you can use supplier statistic group to define the supplier groups.

Hi @NGADBOIS ,

Further statistic group could be used in posting control to define different accounts to be used as per classification of supplier.

Hope this further helps

@Rasika Lakmal , to the point @NGADBOIS raised, is it a hard and fast rule in IFS that Form of Business field is exclusively for corporation or sole proprietorship etc? For instance, we have this supplier categorization which has Blocked, Approved, Preferred etc Suppliers. We have those values in the LOV of the Form of Business. 

I am even in the Process of finalizing a Quick Report called ‘Preferred Supplier for Purchase Part’ where I plan to make a join between Form Of Business Description = Preferred and the Supplier for Purchase Part view. Do you think that’s a bad idea? :)