VENDOR MANAGED INVENTORY (VMI) is a process in which a supplier generates orders for its distributor based on demand information sent by the distributor. Vendor Managed Inventory was first applied to the grocery industry, between companies like Procter & Gamble (supplier) and Wal-Mart (distributor). But increasingly, Vendor Managed Inventory is providing the benefits of smoother demand, increased sales, lower inventories and reduced costs to other industries.
GAO (Government Accountability Office) is the investigative arm of the United States Congress charged with examining matters relating to the receipt and payment of public funds.
ON-THE-JOB TRAINING (OJT) is training that takes place at the work site, usually supervised by a manager or an experienced coworker.
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