Vendor Managed Inventory (VMI):Benefits, Challenges and Essentials in Implementation

This paper is an attempt to deal with an important concept of vendor managed inventory. Difference between vendor managed inventory supply chains and traditional supply chains have been discussed. Benefits of implementation of vendor managed inventory concept to different members have been provided followed by challenges being faced by supply chain members. Essentials for implementation of vendor managed inventory strategy have been also provided keeping in view the futuristic vision to facilitate academicians and supply chain managers towards developing an understanding of overall scenario of implementation of vendor managed inventory.