Contents
Executive Summary 2- Inventory Control Management 2
- Controlling Inventory 2
- Inventory Control 3
- Methods in inventory Control 4
- Inventory Planning 4
- Establish order cycles 4
- Min-Max System of inventory control 5
- Two-Bin System of inventory control 5
- ABC Analysis of inventory management 6
- Order-Cycling System of inventory control 6
- Vendor Management Inventory 6
- Vendor Managed Inventory (VMI) 6
- Role of VMI in demand 8
- Benefits of VMI 9
- Progress in forecasts 10
- Lower customer Inventories 10
- Conclusion 10
- References 11
Description
This report is based on the following 2 questions -
1) Discuss the methods used for inventory management
2) Explain what is meant by Vendor Management Inventory (VMI) and discuss fully how the application of VMI can help in reduction of demand amplification.
