Vendor Managed Inventory
Vendor Managed Inventory is a streamlined supply chain management process, where the supplier, rather than the retailer, monitors and controls inventory stocks, determining optimal quantities and replenishment times. This business model improves forecast accuracy, reduces stockouts, and enhances overall operational efficiency.
Level 1: Emerging
At an emerging level, you are gaining foundational knowledge about Vendor Managed Inventory concepts, beginning to understand vendor relationships, inventory control, and the supply chain management process.
Level 2: Proficient
At a proficient level you are able to effectively implement and manage vendor managed inventory systems, optimizing inventory levels and improving supply chain efficiency within your organization.
Level 3: Advanced
At an advanced level you are able to implement and optimize vendor managed inventory strategies, effectively collaborating with suppliers to reduce costs, minimize stockouts, and improve supply chain efficiency.
