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People also ask
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What does VMI stand for 1 point vendor material inventory vendor managed inventory variable material inventory valuable material inventory?
Vendor managed inventory (VMI) is a collaborative supply chain management strategy where the vendor (supplier) manages the inventory levels at the customer's location. This management involves the vendor monitoring stock levels, forecasting demand, and replenishing inventory.
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What is an example of VMI?
Vendor Managed Inventory Example Major industrial suppliers such as Graybar and Gexpro Services use VMI to ensure that they replenish customer stockrooms in an optimized way where the customer doesn't carry too much inventory but also doesn't stockout.
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What does VMI stand for managed inventory?
In the vendor-managed inventory (VMI) model, the supplier manages and maintains inventory at the business's premises, where the business is the final seller and distributor of those products. Published on August 8, 202410 minutes. Supply Chain Management.
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What is the VMI method?
Vendor-managed inventory (VMI) is an inventory management technique in which the supplier of goods, usually the manufacturer, is responsible for optimizing the inventory a distributor holds.
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Who manages the inventory of a vendor managed inventory VMI system?
VMI, also known as supplier-managed inventory from a customer's point of view, is a data-driven initiative where suppliers manage the inventory levels of their own products, components, or materials at the on-site location of the vendor or distributor.
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What does VMI stand for?
Vendor managed inventory (VMI) is an arrangement where suppliers manage inventory levels that have been pre-determined. In short, the supplier takes decisions on behalf of the retailer wherein the supplier replenishes the inventory continuously.
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