Vendor Managed Inventory.docx - Running Head Vendor Managed Inventory Vendor Managed Inventory HCM542 Healthcare Operations Management Colorado State

Vendor Managed Inventory.docx - Running Head Vendor Managed...

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Running Head: Vendor Managed Inventory 1 Vendor Managed Inventory HCM542: Healthcare Operations Management Colorado State University- Global Campus
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2 Vendor Managed Inventory Start Contract Agreement Customer Supplier Demand forecast Demand management Customer Warehouse Supplier warehouse replenishment planning Supplier plant Customer Warehouse Shipment Response to Forecast Advanced Shipping Notice Receipt confirmation Account Managment Customer plant Invoicing Payment Deliver supplies to patients End
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3 Vendor Managed Inventory Vendor Managed Inventory (VMI) is a process where the suppliers manage their customer’s orders based on their demand data that they receive from the customer. The suppliers and customers will sign on a contract agreement which controls the customer’s inventory levels, fill rates and cost. The VMI process aims to improve supply chain performance but reducing inventories and eliminating stock-out situations. The supplier will review and make a decision based on the information they were received and the agreement between the supplier and customer. The participants involved in vendor inventory managed in healthcare are the suppliers, customers, healthcare facility, employees and patients. Internal customers are nurses, technicians
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