Three Ways to Strengthen Supplier Relations With VMI

With the business landscape as we know it being so fast-paced, effectively planning your inventory is crucial to maintaining the smooth running of a business. By being able to meet customer demand without struggling with excess inventory, you can completely transform daily operations and remove a huge burden for the buyer.

Following are three key strategies to help enhance supplier relationships through a vendor-managed inventory (VMI) system.

Develop a detailed agreement. Before agreeing to work with a supplier, both parties should be fully aware of their roles and responsibilities. By setting expectations before becoming reliant, a business is able to better manage its inventory and receive orders with realistic stock levels and lead times. Fostering transparency from the beginning will ensure both the supplier and buyer are on the same pag…