What Is Vendor Managed Inventory (VMI)?
Vendor managed inventory (VMI) is a highly effective way for an original equipment manufacturer (OEM) to make both financial and operational improvements that directly impact the bottom line.
Rather than allocating countless administrative and labor hours toward procurement and materials management, OEMs can entrust these tasks to a third-party provider. By taking inventory management off the factory workers’ plates, VMI systems can save OEMs time, money and effort, all while enhancing the overall production process. But what exactly is vendor managed inventory…
