What is Vendor-Managed Inventory Systems (VMI)

VMI-based systems are designed to transfer the control of inventory and its planning activities to a manufacturer or distributor in order to provide a beneficial relationship to promote a more transparent and seamless flow of goods and services at lower costs. As in many recent retailer applications, the supplier/vendor assumes responsible for replenishing and stocking inventory at appropriate levels to minimize inconvenience to the ultimate customer.

Exploring RFID Healthcare Operational Strategies

Alan D. Smith (Robert Morris University, USA)