7 Great Benefits of Vendor Managed Inventory

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.


Six Supply Chain Planning Strategies to Maximize Your Company’s Performance

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.


Statistical Forecast for Better Demand Planning

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 of more accurate forecasts:Improve customer service levels.Increased sales.Reduced cost of carrying inventory.Improved cash flow projections.Production smoothing (level loading).Reduced employee costs.Increased…

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Forecast money concept

Demand Planning-Sensing and Shaping Forecast

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 planning is designed to do for us and the best we can do is wring out the best information we…