Collaborative Inventory Management
The Vendor Managed Inventory (VMI) Module in OMS offers a streamlined approach to inventory management and order fulfillment that links a supplier directly to a buyer’s demand. This allows vendors to generate replenishment orders on the buyer’s behalf based on demand data.
Benefits of OMS Vendor Managed Inventory
- Extends visibility into demand projections to both buyers and suppliers, giving vendors greater ability to forecast their own demand and sales.
- Reduces time spent creating orders while maintaining buyers’ ability to review and approve POs.
- The 2017 Datalliance Forum conducted an inter-industrial study that examined best practices for supply chains and found that, on average, after their first year using VMI programs, participating companies saw:
- 24% reduction in out-of-stocks
- 22% increase in inventory turns
- 25% increase in items carried
- 22% increase in sales
To watch a quick Demo of our OMS Crossdock Module, click here.