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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2074 |
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If a sufficiently accurate and broad sharing of information is allowed, it is possible to enter into Vendor Managed Inventory practices (VMI). VMI takes the responsibility for the management and replenishment of the inventory from the customer and transfers it to the supplier. Both parties benefit from this system as the supplier requires less buffer stock and the customer through higher levels of reliability and availability...
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Responsiveness can also be described as agility or the ability to meet changing customer demands sooner. Reliability relates to the uncertainty inherent in many businesses, this can be improved by better visibility of the whole supply chain. Resilience is described as the ability to cope with unexpected disturbances...
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