VENDOR MANAGED INVENTORY (VMI) WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Vendor Master Data: Retrieve vendor profiles and their specific service level agreements (SLAs) from the Vendor Data Model.
[ ] Fetch Current Stock Levels: Retrieve existing inventory quantities from the Inventory Data Model for all items under VMI.
[ ] Calculate Total Stock Value: Sum the value of all items currently in stock to determine total capital tied up in VMI.
[ ] Calculate Reorder Point: Execute formula (Average Daily Usage * Lead Time) + Safety Stock to determine if replenishment is needed.
[ ] Update Stock Status: Update the 'Status' field in the Inventory Data Model to 'Low Stock' when thresholds are breached.
[ ] Create Replenishment Order: Create a new entry in the Purchase Order Data Model for the required quantities.
[ ] Assign Vendor Review Task: Create a task for the Vendor Representative to review and confirm the replenishment quantities.
[ ] Notify Vendor of Replenishment: Send an automated email to the vendor contact with the details of the new replenishment order.
[ ] Warehouse Receiving Task: Create a task for the Warehouse Manager to prepare for incoming stock arrival.
[ ] Update Order Status to 'In Transit': Update the Purchase Order entry status once the vendor confirms dispatch.
[ ] Fetch Received Goods Data: Retrieve data from the Goods Receipt entries to verify quantities against the order.
[ ] Calculate Variance: Compare 'Ordered Quantity' vs 'Received Quantity' to identify discrepancies.
[ ] Discrepancy Alert: Send an email to the Procurement Manager if the variance exceeds the allowed tolerance.
[ ] Update Inventory Levels: Increase the quantity in the Inventory Data Model following a successful goods receipt.
[ ] Generate Monthly VMI Performance Report: Create a report summarizing stockouts, order accuracy, and vendor compliance for the month.

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