Which of the following is TRUE?
A)VMI stands for Vertically Managed Inventory
B)3PL stands for Third Party Leverage
C)VMI stands for Vendor-Managed Inventory
D)3PL stands for Three Point Logistics

Question

Quizplus · Accepted Answer

VMI stands for Vendor-Managed Inventory, which is when the supplier of goods manages the inventory levels and replenishment at the customer's site. 
Option A is incorrect as Vertically Managed Inventory is not a commonly used term. 
Option B is incorrect as 3PL stands for Third Party Logistics, which is when a company outsources their logistics operations to a third party provider. 
Option D is incorrect as Three Point Logistics is not a commonly used term.

Which of the Following Is TRUE