A ________ VMS integrates successive stages of production and distribution under single ownership.

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A corporate VMS (Vertical Marketing System) is where the successive stages of production and distribution are integrated under single ownership. This means that one company owns and controls every aspect of the supply chain from production to distribution, rather than separate companies working independently. This can create efficiencies and cost savings for the company, but may also be seen as monopolistic or anti-competitive.

A ________ VMS Integrates Successive Stages of Production and Distribution