Vendor Owned Inventory (V.O.I.) is an innovative approach to procurement that puts the power of inventory management in the hands of suppliers instead of buyers. With V.O.I., vendors are responsible for keeping product available, thus eliminating long lead times and reducing costs associated with traditional procurement methods. The process involves vendors acquiring goods themselves and shipping them directly to the customer’s warehouse or other place of business. This allows buyers to offload the task of tracking inventory levels, freeing up resources and time to focus on other areas of business.