LABELS FOR VENDOR CONTACTS

Is there a way to add a label/tag to a contact?
IE: VENDOR: LAMPS PLUS
LABEL: LIGHTING
This way you can do a quick search within contacts to ID the list of vendors in a specific vertical market. Lists of vendors are so long that sometimes we forget who we have sourced, and this would make our vendor library more efficient, faster and resources more accessible. It could even pull from the tags we already create when we pull an item into the library as a cross over.