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Vendor-managed inventory (VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory ...
Business models, including Just in Time (JIT) Inventory, Vendor Managed Inventory (VMI) and Customer Managed Inventory (CMI), attempt to minimize on-hand inventory and increase inventory turns. VMI and CMI have gained considerable attention due to the success of third-party vendors who offer added expertise and knowledge that organizations may ...
Just-in-time inventory (JIT), vendor managed inventory (VMI) and customer managed inventory (CMI) are a few of the popular models being employed by organizations looking to have greater stock management control. JIT is a model that attempts to replenish inventory for organizations when the inventory is required.
Some practical realizations of this approach are Collaborative Planning, Forecasting, and Replenishment (CPFR), Vendor Managed Inventory (VMI) and Quick Response (QR). The theory of channel coordination aims at supporting the performance optimization by developing arrangements for aligning the different objectives of the partners.
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