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What it takes to implement and maintain successful supplier-managed inventory programs.

D G Curtis

    Hospital Materiel Management Quarterly
    |August 1, 2000
    PubMed
    Summary

    Manufacturers face global competition and need faster product delivery. Proper supplier selection and inventory management programs are crucial for success in today

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    Area of Science:

    • Operations Management
    • Supply Chain Management
    • Manufacturing Strategy

    Background:

    • Manufacturers face intense global competition and rapid technological advancements.
    • There is increasing pressure on suppliers to reduce traditional lead times for product delivery.

    Purpose of the Study:

    • To explore critical factors in successful supplier selection.
    • To identify key elements for successful supplier management programs.
    • To review popular supplier-managed inventory programs in the high-technology sector.

    Main Methods:

    • Literature review of supplier selection criteria.
    • Analysis of case studies on successful inventory management programs.
    • Comparative study of different supplier-managed inventory models.

    Main Results:

    • Effective supplier selection hinges on criteria beyond cost, including quality, reliability, and innovation.
    • Successful programs require strong communication, collaboration, and shared goals between manufacturers and suppliers.
    • Supplier-managed inventory (SMI) programs, such as vendor-managed inventory (VMI), offer significant benefits in reducing lead times and optimizing stock levels.

    Conclusions:

    • Strategic supplier selection and robust inventory management are vital for manufacturers to thrive.
    • Implementing well-defined supplier-managed inventory programs can enhance operational efficiency and competitiveness.
    • The high-technology industry benefits greatly from tailored supplier and inventory strategies to meet dynamic market demands.

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