Z94.14 - Operations & Inventory Planning & Control
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VENDOR. Entity external to the company who supplies material or services. Syn: supplier.
VENDOR LEAD TIME. The time that normally elapses between the time an order is placed with a supplier and the shipment of the material.
VENDOR SCHEDULER. An individual whose main responsibility is insuring vendors conform to the schedule. By using vendor scheduler approach, the buyer (purchasing agent) is then freed from day-to-day order placement and expediting and thus has the time to do cost reduction, negotiation, vendor selection, alternate sourcing, etc.
VERTICAL DISPLAY. A method of displaying or printing output from an MRP system where requirements, scheduled receipts, projected balance, etc. are displayed vertically. Vertical displays are often used in conjunction with bucketless systems. (See HORIZONTAL DISPLAY, BUCKETLESS SYSTEM.)
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