Identification& Evaluationof Key Components in Vendor Managed Inventory (VMI) for Automobile Industry Using ANOVA
Abstract
As per the current trend, market needs variation in goods, which leads to generates dissimilarity in demand. This demand creates many managerial complexities like forecasting, planning etc. To reduce the jeopardy due to ambiguity in demand, from basic raw resources to finished product delivery to clients, the entire practice should go through some new techniques and radical changes. Companies should essentially focus on taking competitive lead by efficiently handling their supply chains. This study tries to find some key components of Vendor Managed Inventory (VMI) which are vital to vendor as well as customer for automobile industry. This paper reveals the comparative difficulties and importance in the introduction of VMI components in the automobile sector.