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A company finds that one of its warehouses is out of capacity to store products. Expanding the physical size of the warehouse is not an option. The most appropriate solution would be to increase the:
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Question 381 - CSCP discussion

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A methodology in which inventory is increasingly likely to be placed on consignment instead of being sold first to the retailer and then to the end customer is known as:

A.
Collaborative planning, forecasting, and replenishment (CPFR)
Answers
A.
Collaborative planning, forecasting, and replenishment (CPFR)
B.
Vendor-managed inventory
Answers
B.
Vendor-managed inventory
C.
A quick-response program (QRP)
Answers
C.
A quick-response program (QRP)
D.
A continuous replenishment system.
Answers
D.
A continuous replenishment system.
Suggested answer: B

Explanation:

Vendor-managed inventory (VMI) is a supply chain practice where the supplier (vendor) assumes responsibility for managing inventory levels for the retailer or customer. Under this system, inventory is typically placed on consignment, meaning it remains the property of the supplier until it is sold to the end customer. This approach helps in reducing inventory holding costs for the retailer, improving inventory turnover, and ensuring better availability of products. VMI relies on real-time data sharing between the supplier and the retailer to maintain optimal inventory levels and replenish stock as needed.

Reference:

APICS Dictionary

'Supply Chain Management: Processes, Partnerships, Performance' by Douglas M. Lambert

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asked 16/09/2024
Claudious Utete
40 questions
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