Definition
Vendor-Managed Inventory (VMI) is a supply chain management practice where a supplier or vendor is responsible for monitoring and replenishing inventory levels at a customer's location. In VMI arrangements, the supplier takes on the role of inventory planning and management, using information such as point-of-sale data or inventory levels to automatically replenish stock, optimize inventory levels, and ensure product availability, thereby reducing stockouts, improving efficiency, and enhancing collaboration between supply chain partners.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.