Maintaining your product inventory at a level that allows immediate fulfillment while keeping storage and related costs down is challenging. We provide vendor-managed inventory (VMI) services that relieve your team of this task. VMI is a supply-chain management concept that refers to inventory planning in which a buyer or retailer shares inventory information with a vendor or supplier who then makes decisions on order sizes.
In-house or third-party logistics providers (3PL) can also help ensure the buyer maintains the correct inventory levels. In vendor-managed inventory systems, businesses are less likely to run out of stock, while still keeping inventory low in the supply chain.
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Properly executed, vendor-owned inventory management ensures that customers get the product they need when they need it . And, since inventory levels are kept at a minimum, vendor-managed inventory delivers significant cost reductions. Some of these savings come from minimized purchasing-related administrative costs. For example, the purchasing department spends less time calculating product-purchasing orders and handling order corrections and reconciliations.
Other savings come from reduced warehousing and inventory costs. Vendor-managed inventory benefits the supplier or manufacturer by integrating buyer-provided point-of-sale data and improving order forecasting models. With more insights into inventory levels, manufacturers can reduce stock-outs and back orders.
Is vendor-managed inventory right for your organization? Find out.
Our vendor-managed inventory solutions provide:
Letting an experienced VMI company like NewStream manage your inventory reduces friction and lowers costs. From inventory planning to expediting, a strategic business alignment with our company can improve planning, forecasting, and customer service, and can establish a just-in-time delivery approach, while reducing lead times to your end user.
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