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Making consignment- and vendor-managed inventory work for you.

M K Williams1

  • 1North Highland Company, Atlanta, Georgia, USA.

Hospital Materiel Management Quarterly
|August 1, 2000
PubMed
Summary
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This article explores the advantages of vendor managed inventory (VMI) and consignment for suppliers. It highlights how understanding costs and managing risks through negotiation ensures mutual benefits for both suppliers and customers.

Area of Science:

  • Supply Chain Management
  • Operations Research

Background:

  • Vendor Managed Inventory (VMI) and consignment are inventory strategies.
  • Suppliers face unique challenges and opportunities with these models.

Purpose of the Study:

  • To analyze the benefits of VMI and consignment from a supplier's viewpoint.
  • To identify the associated costs and risks for suppliers.

Main Methods:

  • Qualitative analysis of VMI and consignment models.
  • Examination of supplier-centric benefits, costs, and risks.

Main Results:

  • Both VMI and consignment offer distinct advantages to suppliers.
  • Successful implementation requires careful management of costs and risks.

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Conclusions:

  • VMI and consignment can be profitable for suppliers when properly managed.
  • Strategic negotiation is key to mitigating risks and maximizing benefits.