Quite often in a vendor-managed inventory (VMI) system, the inventory is owned by the retailer before it

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Quite often in a vendor-managed inventory (VMI) system, the inventory is
owned by the retailer before it is shipped by the supplier.
owned by the supplier until it is sold by the retailer.
sold by the supplier before it is owned by the retailer.

sold by the retailer before it is shipped by the supplier.

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