VMI 관련 계약의 법적 쟁점 - 하도급거래 공정화에 관한 법률을 중심으로 -

In connection with the procurement of raw materials, the number of company that applies the Vendor Managed Inventory (the “VMI”) theory are increasing. The theory, which is the technique that avoids the risk of shortage or excess inventory through building partnerships between vendors and manufacturers to share demand and inventory information, presupposes the cooperation of vendors and manufacturers. Typically VMI agreement has contents as follows. First, manufacturers provide forecasting information to vendors. Second, according to such information, vendors produce adequate quantities of raw materials and deliver such materials to VMI warehouse designated by manufacturers. Third, manufacturers purchase the material as their demand. However, this procedure is detrimental to the vendors in light of payment due and inventory risk. In this regard, manufacturers are exposed to the risk of infringement of Fair Transactions in Subcontracting Act of Korea. To lower such risk, VMI agreement should contain articles to protect vendors in the perspective of cooperation of vendors and manufacturers.