Which of the following statements is not correct?

- In vendor managed inventory, retailer is responsible for all inventory decisions.

- Strategic Alliance is an agreement between two or more parties to pursue a set of agreed upon objectives while remaining independent organizations.

- In request for bid, a company interested in procurement of a product or service requests the price from multiple providers.

- Low-volume and inexpensive items, purchased during the regular routine of work, can be ordered from an online catalog.