Moving closer to VMI from a practical point of view, this document identifies the main issues that need to be addressed in the agreement in order to meet the needs of both parties and ensure benefits for both sides. Vendor Managed Inventory or VMI is a process in which the vendor creates orders for its customers based on the needs it receives from the customer. The supplier and the customer are bound by an agreement fixing stocks, fill rates and costs. It is demonstrated that an agreement on BMI should be divided into parts dealing with the general and legal aspects of the agreement, while technical and relational aspects should be addressed in the annexes. This increases the flexibility of the agreement, as the VMI relationship evolves over time and the amendments only concern the annexes, with the main part of the agreement remaining unchanged.