INTE Exam Dumps : Supply Management Integration

Vendor-managed inventory (VMI) is an effective strategy for transferring risks related to inventory carrying costs, warehousing costs, and re-stocking costs to the supplier. In VMI, the supplier manages inventory levels, ensuring that stock is replenished as needed, which reduces the manufacturer's burden of inventory management and associated risks.

Establishing progress milestones and monitoring allows the company to track performance and address issues promptly, reducing delays and cost overruns. It provides clear checkpoints and accountability in service contracts. References: Effective contract management involves setting measurable milestones to ensure timely and cost-effective project completion.

A point-of-sale (POS) system would be most useful for providing rapid updates when dealing with suppliers. POS systems capture real-time sales data, allowing for accurate and timely tracking of demand at retail outlets. This information aids in precise forecasting and inventory management, facilitating better supplier communication. Reference: Retail management and technology integration in supply chains.