IIS is now offering yet another way to save your company time
and resources! With a Vendor Managed Inventory (VMI) program, we can assume the
responsibility for managing a company’s inventory of consumable products. This
means we will crunch the numbers and observe the data for how much of each
product the company is using over a period of time, usually weekly, and order
the appropriate quantities of each so there are never too many or too few
items.
The company still maintains ownership of their inventory and
it remains at their own location for easy access to supplies, but we would be
coming in and monitoring the stock, thus eliminating the need for that company
to do it themselves. This method not only reduces administrative costs, but
also decreases the amount of stock on hand while still reducing possible stock
outs since we would be maintaining an accurate level of product. So, the
company would only have the items they actually need in the exact quantities
necessary at any given time.
Additionally, with the company’s employees being in more
frequent contact with us, the supplier, they will subsequently gain more
knowledge on the inventory items and their specific purpose, thus being able to
pass that information on to the end consumer. More knowledgeable staff members always
make customers happy because they can then give input and help customers make
informed decisions when they need to purchase their own products.
Vendor Managed Inventory can be a complicated and involved
process, but IIS wants to work with you to help determine your needs and set up
a viable strategy for your business. Contact us for more information!
215-396-0822
Sources:
http://www.vendormanagedinventory.com/definition.php
http://www.quickmba.com/ops/vendor-managed-inventory/
http://en.wikipedia.org/wiki/Vendor-managed_inventory
http://www.datalliance.com/whatisvmi.html
