Vendor Managed Inventory (VMI) Process
The Apparel and Soft Goods industry presents unique needs in a demand planning environment. Vendor Managed Inventory is a key component to keeping costs low and being competitive. Collaborative efforts in plan production, shipments, and replenishment help identify and tackle true demand.
Having collaborative software enables quick response times, and helps maintain on-time and in-stock levels.
- Analyze Demand History
- Forecast on an item by item or aggregate basis
- Use "curves" for new product introduction, including product "life-cycle" curves
- Safety Stock calculations based on desired customer service levels
- Nets Requirements from Multi-level Warehouses
- Allocates Inventory on a "fair share" basis, based on priority
- Bills of Materials explosions for "kits" and/or raw materials ordering
- Quick Identification of Action items