Customized Vendor Managed Inventory
When it comes to managing your supply chain vendor managed inventory (VMI) can have a significant impact on the bottom line. Imagine reducing the cost of carrying inventory, replenishing stock automatically, and customizing packaging all in one solution. That’s just a flavor of what a customized VMI program from bisco industries can offer.
At bisco we customize each and every VMI program to meet the unique needs of your business and help you improve profit margins. Here are 3 popular VMI features to help you meet your business challenges:
1. Demand Forecasting
Utilizing data from an electronic data interchange (EDI), bisco can develop demand forecasts to help ensure inventory is always available. Key data needed to develop accurate demand forecasts include current and historical sales volume, production volume, and inventory levels (on-shelf, in-transit, on-order).
2. Bin Stocking
In a classic two bin bin stocking system, bin one is stocked with parts for consumption while bin two contains reserve stock that ensures a line down situation does not occur. Inventory levels can be tracked using barcoding and EDI systems or by onsite checks at regular intervals (i.e. twice per month).
3. Kitting
bisco will review your bill of materials and package items together to provide production ready kits. Single line item releases reduces vendors, SKU’s, inventory, inspection, transaction and acquisition costs. Additionally, kitting streamlines procurement and speeds up the manufacturing cycle.
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