Vendor Managed Inventory (VMI) optimizes supply chain performance by providing the manufacturer with better information and control for the replenishment of suppliers’ inventory levels. The manufacturer accesses the suppliers’ inventory data and generates purchase orders based on depleted inventory. The replenishment plan is incorporated into the forecast to drive operations and production. The powerful features of this solution include the ability to:
- set user-defined business rules
- perform market planning
- plan with flexible hierarchies and planning horizons
- generate a consensus forecast
- manage multiple data streams
- monitor and report plan versus actual
- incorporate business rules and logic
- analyze success of the VMI program
Through improved visibility, manufacturers can anticipate the need for an item prior to the order. Visibility offers the manufacturer more flexibility to make, store, and deliver the right product to the right location at a lower cost.
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