Lorman offers professional resources regarding COVID-19 and the 2020 Election

Available in:

OnDemand Course
MP3 Download

Successful Vendor Managed Inventory Programs

Understand the pros and cons of Vendor Managed Inventory programs and how to make them successful.

Many vendors that provide basics to your business will want to put your store(s) on a Vendor Managed Inventory program. This program allows the vendor to stock your stores with inventory levels that they believe would be appropriate. This can be a great opportunity for you and your stores, but you have to know the good and bad elements of doing business this way. Dan Jablons of Retail Smart Guys walks you through the entire process in this topic, making sure that you have the greatest level of success!

57 minutes
Course Exam
Certificate of Completion
Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is Vendor Managed Inventory?

  • Definition
  • Isn't This Allowing the Vendor to Write Their Own Checks From My Checkbook?

Typical Negotiated Terms

  • Inventory Levels/Square Footage of Floor Space
  • Turn Rate
  • Maintained Markup
  • End of Season Inventory
  • Frequency of Orders
  • Frequency of Store Visits

Benefits for the Retailer

  • One Less Vendor/Product Category to Maintain
  • Should Provide Better Sell Thru, Better Margins
  • Should Provide Lower Carrying Costs
  • Frees up Time to Work on Other More Difficult Categories

Benefits for the Vendor

  • Better Insights Into the Retail Business
  • Better Ability to Predict and Control Their Own Production
  • Less Chance of Abandonment by the Retailer

How Does It Start?

  • Current Physical Inventory
  • Review of the Status/Freshness of the Goods
  • Trade Outs of Older Merchandise in Favor or New Goods
  • Review of Size/Color/Dimension Optimum Inventory

Review Items as the Program Progresses

  • Am I Selling More or Less Than When We Started?
  • Am I Buying More or Less Than When We Started?
  • Did This Improve My Cash Margin?
  • Has This Disrupted My Selling Floor?

Negotiating Tips

  • Terms on Purchases
  • Timing of RTVs
  • Marketing Support
  • Length of Agreement/Termination
Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on July 20, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Dan Jablons

Dan Jablons

Retail Smart Guys

  • Award winning merchandise planner and retail consultant for 15 years in a row
  • Piloted some of the industry’s earliest vendor managed inventory programs
  • Keynote speaker at many trade shows, including MAGIC, Surf Expo, and Global Pet Expedition
  • Has worked with retailers, large and small, nationally, and internationally
  • Was amongst the first to work with independent retailers to add technology to their stores to improve their bottom line
  • In addition to his retail knowledge, he has also been an actor on TV, you know him as Larry David’s lawyer on Curb Your Enthusiasm
Purchase Options

More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 408960
Published 2021
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!