In this episode co-hosts Rob and Julie discuss what you need to know about Vendor Managed Inventory or VMI for short.
What Is Vendor Managed Inventory?
Vendor Managed Inventory is a supply chain agreement where vendors or suppliers manage, maintain, and optimize their inventory while it’s in the possession of a buyer.
In other words, it’s an inventory management system where inventory is replaced for the buyer or retailer without them having to initiate a purchase order. The buyer or retailer shares their inventory data with a vendor and the vendor determines order size and frequency.
Fortunately Rob is a bit of an expert on this topic and shares some insights from his experiences.
If you think VMI IS a good fit for your organization, we would love to connect you to our team at Radwell who can assist you. Just email automationnation@Radwell.com and we will get you connected with the right people to help you get started.
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