2005Science of Science and Management of S.& TRequires access

The Application of Modern Vendor Managed Inventory in Technological Enterprises

Zheng Huan

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Abstract

VMI (Vendor Managed Inventory) is a new method of inventory management under the environment of supply chain, which could make a positive contribution to improve the inventory situation of whole supply chain and reduce the gross cost of systematic inventory. Based on the characteristics of VMI and the problems that encountered in inventory management practice, the paper creatively offers the managerial idea that technological enterprises should classify the inventory by means of gray clustering analytical method, and menstruate the gray degree of the classifying result. The analytical result could make a great contribution for scientific and technological enterprises to make appropriate analyses and determinations when they pursue VMI.

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What this paper is about

VMI (Vendor Managed Inventory) is a new method of inventory management under the environment of supply chain, which could make a positive contribution to improve the inventory situation of whole supply chain and reduce the gross cost of systematic inventory. Based on the characteristics of VMI and the problems that encountered in inventory management practice, the paper creatively offers the managerial idea that technological enterprises should classify the inventory by means of gray clustering analytical method, and menstruate the gray degree of the classifying result. The analytical result could make a great contribution for scientific and technological enterprises to make appropriate analyses and determinations when they pursue VMI.

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Available abstract

VMI (Vendor Managed Inventory) is a new method of inventory management under the environment of supply chain, which could make a positive contribution to improve the inventory situation of whole supply chain and reduce the gross cost of systematic inventory. Based on the characteristics of VMI and the problems that encountered in inventory management practice, the paper creatively offers the managerial idea that technological enterprises should classify the inventory by means of gray clustering analytical method, and menstruate the gray degree of the classifying result. The analytical result could make a great contribution for scientific and technological enterprises to make appropriate analyses and determinations when they pursue VMI.

Key concepts: Vendor-managed inventory, Inventory management, Supply chain, Vendor, Business, Inventory theory, Operations management, Inventory cost

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