Open AccessKey Components Identification in Vendor Managed Inventory (VMI) and their Evaluation Using ANOVA for Automobile Industry in Indian Context
Author(s) -
Viyat Varun Upadhyay,
Vikas Sharma
Publication year - 2021
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/1116/1/012094
Subject(s) - vendor managed inventory , vendor , supply chain , context (archaeology) , key (lock) , identification (biology) , product (mathematics) , business , supply and demand , computer science , operations management , supply chain management , operations research , industrial organization , marketing , economics , microeconomics , engineering , paleontology , botany , geometry , computer security , mathematics , biology
The latest market trend shows that generation of dissimilarity in demand is because of variation is required by market in goods. Lot of complexities like planning, forecasting is generated due to this demand. Market always have uncertainty in demand starting from raw material to the final product delivered to the customer. To reduce this uncertainty, the entire approach must be changed to some new techniques. This can be achieved by managing the company supply chain in a very efficient manner and by doing so they can have competitive advantage over others. Few components of Vendor Managed Inventory (VMI) vital for both vendors and clients are discussed in this paper. A comparison of degree of difficulty and importance is also done in this paper.