ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Distribution planning
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Supply network planning
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Customer collaboration process
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Procurement process
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Detailed explanation-1: -Customer Collaboration Process: Customer Collaboration process allows vendor to assume responsibility for planning the levels of inventory at the customer location.
Detailed explanation-2: -Vendor Managed Inventory Manager manages and maintains the customer’s inventory replenishment levels and stock models based on approved schedule and agreed-upon targets. Monitors and analyzes utilization, product availability, pricing, and lead times to prepare VMI models.
Detailed explanation-3: -Vendor-Managed Inventory (VMI) is a means of optimizing supply chain performance in which the supplier (manufacturer/distributor) is responsible for maintaining the customer’s inventory levels. The distributor has access to its customer’s inventory data and is responsible for generating purchase orders.