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Vendor-Managed Inventory: Using Trust, Information and Relationships to Improve Operational Efficiency

Overview Companies that purchase fuels, chemicals, solvents and other products often have to make a choice: either reduce costs by keeping inventory levels low, risking run-outs and lost sales, or keep enough surplus inventories on hand to be prepared for unforeseen spikes in product demand, which tends to drive up inventory costs and market price risks. Vendor-Managed Inventory is a system by which the distributor (seller) of products (e.g. fuels) monitors and manages a customer's (buyer's) inventory levels, often through a system of automated data collection and analysis. When product inventories drop below a specified level, the distributor dispatches a delivery based on previously agreed-upon criteria.

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Publisher
WorldTelemetry
File Format
PDF
Date Published
May 1, 2007
Format
White Papers
Topics
Warehouse Inventory Management, Data Mining - Analysis, Business Management

WorldTelemetry White Papers

Business Intelligence Software: What It Is and Why It Is Necessary

Business Intelligence Software: What It Is and Why It Is Necessary

Business Intelligence Software are applications that build on existing data warehouses and provide analytical processing

Publisher: WorldTelemetry  |  Tags: applications, data