Fast-Rite Blog

21 Sep

Why Switch to a Vendor Managed Inventory?

Posted in: Productivity | Comments Off

Why a Vendor Managed Inventory system with Fast-Rite International?

In today’s hyper-competitive industrial environment, the difference between success and failure is highly dependant on an organized and efficient inventory system. Few things are more upsetting to a customer than being told their parts are out of stock. And this is especially distressing when you can’t ship a product because A C-class component like a fastener, stamping or fitting is not available.

But simply stock-piling safety stock to insure that you will always have each product is inefficient and creates a great deal of unnecessary and excess cost.

The solution to this problem is simple. Let Fast-Rite implement a Vendor Managed Inventory (VMI) system to consistently and efficiently manage your C-Class inventory.

At Fast-Rite International we provide a multitude of solutions and combinations of VMI systems to fit each customer’s specific needs. Fast-Rite International can provide different combinations of Consignment, Bin, JIT, Kanban/E-Kanban inventory management systems to suit the exact needs of each customer.

There are many benefits from implementing a VMI system:

- A drastic reduction of soft costs by reduction and offload of transaction activity.

-Reducing your inventory dollars.

-By only paying for the inventory that is consumed, stock investment is reduced while stock turnover is increased.

-Decreased lead times due to more efficient inventory storage and replenishment.

-Free up your purchasing department to focus on more critical “A” and “B” items. Many hours of transaction time can be reallocated for other needs because Fast-Rite can be doing your planning, ordering, receiving, put-away and stock pulls for you.

SIMPLIFY YOUR WORK LIFE! Let our VMI Team do the work for you.

To schedule a site and needs analysis, contact your Fast-Rite account manager or our VMI / Productivity Manager Jim Gillespie at 630.942.6270 or by email, jim@fast-rite.com.

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