Vendor managed inventory ( VMI ) is an inventory management strategy in which a product’s manufacturer or other supplier is in charge of making the best use of a distributor’s stock.
Vendor Managed Inventory ( VMI ) functions by developing a symbiotic relationship between the two parties to a transaction that enables them to share risk and cooperate for mutually beneficial outcomes. The vendor can control and manage the complete supply chain by taking care of a buyer’s inventory and supply chain management.
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