In a vendor-managed inventory (VMI) system, the producer of a good or another supplier is in charge of making the best use of a distributor’s stock.
Vendor Managed Inventory (VMI) works by creating a symbiotic relationship between the two parties involved in a transaction, allowing them to share risk and work together for mutually beneficial outcomes. By handling a buyer’s inventory and supply chain management, the vendor may maintain control over and manage the entire supply chain.
The development of a successful VMI programme necessitates a solid working relationship with your client. Trust, the capacity to identify and develop win-win solutions, collaboration on forecasting, goal setting, and metrics are key components of a successful partnership. scorecard evaluations
“5 Best Vendor Managed Inventory Books “
Global Reader’s Click Below:
- Starting a Business QuickStart Guide: The Simplified Beginner’s Guide to Launching a Successful Small Business, Turning Your Vision into Reality, and Achieving Your Entrepreneurial Dream
- Operations and Supply Chain Management Essentials You Always Wanted to Know (Self-Learning Management Series)
- The Supply Chain Revolution: Innovative Sourcing and Logistics for a Fiercely Competitive World
- Business Basics BootCamp: The Ultimate Crash Course
- Discrimination and Disparities