Now Accepting Vendor Managed Inventory Accounts

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