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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Describe Vendor Managed Inventory (VMI), Co-Managed Inventory, Collaborative Forecasting and Replenishment (CFAR), and Collaborative Planning Forecasting and Replenishment (CPFR).

Summary Introduction

To describe: The given terms.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Explanation

Describe Vendor Managed Inventory (VMI):

In VMI, vendors would acquire the current sales, inventory, and demand data of the buyer in real time and restock the inventory of the buyers. As the vendor manages the inventory of the buyers, it is said to be vendor-managed inventory, which can also be known as supplier-managed inventory.

Describe Co-managed Inventory:

Co-managed inventory is a form of vendor managed inventory. Here, the buyer will manage regarding the restock of promotional merchandise and the vendor will manage the restock of standard merchandise...

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