What is Vendor Managed Inventory (VMI) in Supply Chain Management? PDF | Download eBooks

Learn Vendor Managed Inventory (VMI) definition in supply chain management with explanation to study “What is Vendor Managed Inventory (VMI)”. Study vendor managed inventory (vmi) explanation with SCM terms to review supply chain management course for online MBA programs.

Vendor Managed Inventory (VMI) Definition

Vendor Managed Inventory (VMI) Explanation

Seller Managed Inventory is a plan of action where the purchaser of an item gives data to a merchant of that item and the seller assumes full liability for keeping up a concurred stock of the material, for the most part at the purchaser's utilization area. An outsider coordination's supplier can likewise be included to ensure that the purchaser have the required degree of stock by changing the interest and supply holes. VMI makes it more uncertain that a business will inadvertently end up out of load of a decent and diminishes stock in the store network. VMI expels the requirement for the client to have critical well-being stock in light of the fact that the provider deals with the resupply lead times. Lower inventories for the client can prompt noteworthy cost investment funds.

Keep Learning Supply Chain Management Explanations

What is Standard error of the estimate?

Standard error of the estimate is used to measure the variation of observation that is made around the regression line. ...

What is Exponential Smoothing?

Changes occur in the data when the firms ignore the fluctuations that are not relevant to the purpose. It is ...

What are Support Functions?

IT supporting the business capacities and friends framework. This may incorporate overseeing frameworks for internet retailing ('e-following'), HR and finance, ...

What is Reverse Engineering?

Figuring out, additionally got back to building, is the procedure by which a man-made article is deconstructed to uncover its ...

What is Mix Flexibility?

The mix flexibility is to deal with a wide scope of items or variations by utilizing hardware having short arrangement ...

What is Type II Error?

A type II error happens when the null hypothesis is not correct, yet incorrectly neglects to be rejected. It is ...