What does vendor-managed inventory mean?
Definitions for vendor-managed inventory
ven·dor-man·aged in·ven·to·ry
This dictionary definitions page includes all the possible meanings, example usage and translations of the word vendor-managed inventory.
Wikidata
Vendor-managed inventory
Vendor-managed inventory is a family of business models in which the buyer of a product provides certain information to a vendor supplier of that product and the supplier takes full responsibility for maintaining an agreed inventory of the material, usually at the buyer's consumption location. A third-party logistics provider can also be involved to make sure that the buyer has the required level of inventory by adjusting the demand and supply gaps. As a symbiotic relationship, VMI makes it less likely that a business will unintentionally become out of stock of a good and reduces inventory in the supply chain. Furthermore, vendor representatives in a store benefit the vendor by ensuring the product is properly displayed and store staff are familiar with the features of the product line, all the while helping to clean and organize their product lines for the store. One of the keys to making VMI work is shared risk. In some cases, if the inventory does not sell, the vendor will repurchase the product from the buyer.
Numerology
Chaldean Numerology
The numerical value of vendor-managed inventory in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of vendor-managed inventory in Pythagorean Numerology is: 4
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"vendor-managed inventory." Definitions.net. STANDS4 LLC, 2024. Web. 18 Apr. 2024. <https://www.definitions.net/definition/vendor-managed+inventory>.
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