The approach authorizing major suppliers to make purchases for their own accounts, resulting in suppliers providing only what is needed when it is needed, is referred to as ________.
A) single-source managed inventory
B) vendor managed inventory
C) account managed inventory
D) cost managed inventory
E) time managed inventory

Question

Quizplus · Accepted Answer

Vendor managed inventory (VMI) is a supply chain practice where the supplier is responsible for managing and replenishing inventory for the buyer, ensuring that the right products are delivered at the right time.

The Approach Authorizing Major Suppliers to Make Purchases for Their