________ occurs when the supplier, rather than the retailer, manages the entire inventory process for a particular product or group of products, resulting in more effective inventory replenishment.

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21-10-2022
Business

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________ occurs when the supplier, rather than the retailer, manages the entire inventory process for a particular product or group of products, resulting in more effective inventory replenishment.

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Neetuverma Neetuverma · Answer 1 · 2022-10-27T21:10:16+02:00

VMI(Vendor Managed Inventory) occurs when the supplier, rather than the retailer, manages the entire inventory process for a particular product or group of products, resulting in more effective inventory replenishment.

What is Vendor Managed Inventory?

Vendor-managed inventory (VMI) is an inventory management technique in which a product's manufacturer or other supplier is in charge of making the best use of a distributor's inventory.

In conventional inventory management, a retailer (also known as a distributor or a buyer) is in charge of determining the order size. With VMI, the vendor—sometimes referred to as the supplier—receives the retailer's inventory data and uses it to make the order size decision. As a result, the vendor is liable for the retailer's ordering costs, while the retailer is accountable for their own holding costs. This approach can prevent stocking unnecessary inventory, which can lower costs overall.

To learn more about Vendor Managed Inventory, visit:

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