Filtering Text Value based on criteria

Hi， newpbiuser01 

According to your description, you want to "For each of the vendors, I need to find the latest data I have, and then retrieve the Product in that year. ".

Thanks for your sample data first!
Here are the steps you can refer to :
We can click "New Column" to create a calcualted column :

Year_Month = [Year]*100+[Month]

[1]If you want to create a calcualted column  to get the Product , you can use this dax:

Column = var _vendor = [Vendor]
var _max_date =MAXX( FILTER('Table' , 'Table'[Vendor] = _vendor ) , [Year_Month])
return
MAXX(FILTER('Table','Table'[Vendor] = _vendor && 'Table'[Year_Month]  =_max_date ) , [Product])

[2]If you want to create a measure  to get the Product , you can use this dax:

Measure = var _vendor =MAX('Table'[Vendor])
var _max_date =MAXX( FILTER('Table' , 'Table'[Vendor] = _vendor ) , [Year_Month])
return
MAXX(FILTER('Table','Table'[Vendor] = _vendor && 'Table'[Year_Month]  =_max_date ) , [Product])

Thank you for your time and sharing, and thank you for your support and understanding of PowerBI! 

Best Regards,

Aniya Zhang

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