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Vendor Managed Inventory (VMI)

SimpleConsign’s platform is designed to enable your vendors to directly manage their own inventory.

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vendor managed inventory
Streamline Management for your Vendor Mall with SimpleConsign

What is vendor managed inventory (VMI)?

Vendor Managed Inventory (VMI) in the context of a vendor mall or booth mall is the practice where individual vendors manage their own inventory within their allocated space, making decisions about what to stock and when to replenish based on sales data and agreed-upon terms with the mall management. This approach aims to optimize inventory levels, reduce stockouts, lower carrying costs, and improve overall supply chain efficiency.

How does vendor managed inventory benefit a vendor mall?

The primary benefit to vendor malls of vendor managed inventory is reduced administrative costs /time.

FAQ

What is Vendor Managed Inventory (VMI) in a vendor mall?

Vendor Managed Inventory (VMI) in a vendor mall allows individual vendors to manage their own inventory within their designated spaces. They decide what to stock and when to replenish based on sales data. This approach helps optimize inventory levels, reduces stockouts, and enhances overall supply chain efficiency by aligning inventory with real-time demand.

How does VMI benefit vendors and mall management?

VMI provides several benefits for both vendors and mall operators. Vendors gain control over their inventory, improving accuracy and allowing them to respond quickly to sales trends. Mall management benefits from a reduced administrative burden, as vendors handle their own stock levels, freeing up resources for other tasks.

Can vendors print their own tags using SimpleConsign's VMI solution?

Yes, with SimpleConsign’s VMI solution, vendors can print their own tags using any printer that supports Avery labels. This feature allows vendors to price items and restock inventory conveniently without needing to visit the mall for label printing.