Inventory Solutions
Consigned/Vendor Managed
Vendor Managed Inventory (VMI) can be a boon to a company’s bottom line if you are aware of all the benefits involved. There is a wide range of VMI solutions, from simple bi-weekly walkthroughs to check stock packaging levels to blanket POs.
For most products, whether consumer goods or manufacturing parts, success means ensuring you have the right product on the shelf at the right time. But how do you ensure you have the right inventory levels consistently day in and day out?
By keeping inventory high? This can be a costly option. If you have too much inventory, you risk having unused, unprocessed inventory that is subject to perishability, safety, and quality controls, or obsolescence, in addition to storage costs.
If there is too little inventory, you risk not having the product on the shelf and losing market share, incurring increased costs for expedited shipping, or having your entire production line come to a halt. That’s where the benefits of inventory management come in.
When we, the vendor have inventory at the customer site we periodically review (either remotely or physically) the inventory on hand and will restock the inventory when the vendor deems it necessary.
If you would like to discuss any requirements, contact our Sales team who will be happy to advise.