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Vendor Managed Inventory
Vendor Managed Inventory is a means of optimizing supply chain performance, in which the manufacturer is responsible for maintaining the distributors inventory levels. The manufacturer has access to the distributors inventory data and is responsible for generating purchase orders. During this process, the supplier is guided by specified objectives regarding inventory levels, fill rates, and transaction costs.
A typical business model without VMI entails that when a distributor needs product, they place an order against a manufacturer. The distributor is in total control of the timing and size of the order being placed. The distributor maintains the inventory plan.
However, when utilizing the Vendor Managed Inventory model, the manufacturer receives electronic data, usually EDI(Electronic Data Interchange) or via the internet, that tells him the distributors sales and stock levels. The manufacturer can then view every item that the distributor......
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Title: Vendor Managed Inventory
Approximate Word Count: 734
Approximate Pages: 3 (250 words per double-spaced page)
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