Vendor Managed Inventory, or VMI, is a business relationship where a manufacturer or distribution business takes over management of inventory for a retail or wholesaler. Using Electronic Data Interchange (EDI) or other electronic methods for communication, the vendor of the product will manage orders and fulfillment for those further down the distribution chain.
The fear of a supply chain disaster destroying years, even decades, of hard-earned company growth is enough to keep managers up at night -- and for good reason: the smoking ruins of once-thriving companies have littered history, and fatal SCM mistakes have often been the culprit.
Supply chain planning used to be more of a guessing game, relying on intuitive managers that, basically, had the inventory and sales data in their heads or on spreadsheets. Advancing…
An efficient supply chain is critical to achieving order accuracy and customer satisfaction. Companies must take the initiative to improve the training of supply chain employees and periodically review their relationships with key vendors and shipping agents. In this article we go over six supply chain planning strategies to maximize your company's performance.
It is vital for companies of all sizes to continue their efforts of making improvements to the supply chain and planning for its success. There are many ways a business can speed up and improve on this system. When you are looking to improve your supply chain planning process, be sure to take a look at these eight improvement opportunities.
With any business, growth is a natural part of the equation. As this growth occurs, it is important that you maintain your software systems and ensure that they are not…
It is no secret that demand planning is a process that many businesses go through to remain successful. It allows for the creation of forecasts that will help the business manage their…
Using a statistical forecast as a starting point often proves to be a solid start to a collaborative Demand Planning process. First, why do companies forecast? There are several benefits…
Demand Planning-Sensing and Shaping ForecastDemand planning requires a lot of coordination, and even the most coordinated of us has a difficult time keeping everything going smoothly constantly.Yet, that is what demand…
Quality is the elusive goal many companies seek, but it is difficult to achieve. The costs of analysis, review and tighter management tend to drive businesses away from seeking quality,…
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