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What is VMI with Consignment

Chapter 2
Handbook of Research on Strategic Supply Chain Management in the Retail Industry
Unlike VMI, in this case the vendor retains the ownership of stock kept at retailer premises till the point the sale is complete. The responsibility of managing the replenishment process continues to lie with the vendor. (From a modeling perspective, the holding cost of the goods kept at the retailer premises may be broken down into physical and financial components. While the former is borne by the retailer, the vendor bears the latter).
Published in Chapter:
The Economic and Environmental Benefits of VMI Adoption in Multi-Retailer Systems
Arqum Mateen (Indian Institute of Management Kozhikode, India) and Ashis K. Chatterjee (Indian Institute of Management Calcutta, India)
Copyright: © 2016 |Pages: 20
DOI: 10.4018/978-1-4666-9894-9.ch002
Abstract
There is an increasing push towards integrating environmental considerations in decision making in organizations. Rethinking and realigning existing business processes has been touted to offer significant potential in reducing the ecological footprint. Specifically, the role of logistics and supply chain has come into prominence in this regard. In this chapter, a supply chain with a single vendor and multiple retailers has been considered. Initially, we assume that the retailers take care of their respective replenishment decisions. Then, it is shown that by adopting vendor managed inventory, the organizations involved can benefit through cost reduction, and at the same time reduce their greenhouse gas emissions, thereby highlighting the role of supply chain coordination in meeting the twin objectives. Managerial and policy insights based on our numerical analysis have also been provided.
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