Affiliation:
1. Robert Morris University, USA
Abstract
Vendor managed inventory (VMI) is a prevailing service many suppliers offer their customers. By being on site with their customers, suppliers are better able to meet their customers' needs as well as expand their own business. This makes suppliers the experts of their commodity for their customers. This is beneficial to both parties. The customer sees a reduction of stockouts, improved on-time delivery, and increased visibility in multiple areas. Suppliers will see increased sales and better client relations. As VMI continues to become more common, both parties need to become partners in order to see the full extent of benefits. In this chapter, the authors will discuss the benefits, drawbacks, and implementation of VMI via AI and big data techniques from both the supplier and customer perspective.
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