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: Read more…
bisco Ranks #19 on 2017 Top 50 Electronics Distributors List
bisco industries is now among the top 20 electronics distributors in the world according to SourceToday’s (formerly Global Purchasing) 2017 Top 50 Electronics Distributors List. bisco’s ranking at nineteen (19) marks a move up of two spots from the 2016 ranking. In addition, 2017 is the 6th consecutive year that bisco has ranked among the top 25 distributors.
Lean Manufacturing & Component Kitting
Running a lean manufacturing environment? Kitting is a process often utilized in lean manufacturing to reduce material handling and processing times as well as to improve line side assembly. Kitting involves gathering the required components for the manufacturer of a particular assembly or product and packaging them together. Once required a kit can easily be issued to the point of use.
The Challenges of Kitting
Kitting has numerous benefits with the overall objective of reducing processing time for parts and downtime for the assembly lines. Despite the benefits of kitting it is only effective as long as all the components are available. Thus it is imperative that all the members of the supply chain meet deadlines and provide accurate demand information. Many manufacturers who do kitting in-house encounter problems with inaccuracies in their inventory levels. Even if one component is below the required inventory level, production may be delayed. Scenarios like this exemplify how bisco industries can be a key partner in your supply chain.
Contracting Out Kitting
bisco industries will take your bill of materials and package items together to provide production ready kits. That way you only have to monitor inventory levels on a single kit rather than multiple components. bisco industries’ kitting services aid in reducing inventory, inspection, transaction, and acquisition costs. Kitting also streamlines procurement and speeds up the manufacturing cycle.
Learn more about bisco’s kitting services by visiting biscoind.com and locating your local sales representative.
21 Value Added Services from bisco
bisco industries’ greatest strength is our customer service and local support. Our team is trained and equipped with solutions for problems that arise in every step of a products development and production.
Looking for a certain product specifications?
Bisco is an authorized, preferred source for the top manufacturers in the industry with access to spec sheets and technical support.
Ready to order?
bisco has 7 stocking warehouses throughout North America. Our relationship with our top supply partners allows us to receive price breaks that we pass on to our customers.
Still not convinced?
bisco industries, offers a wide range of value added services that will streamline your purchasing and supply chain operations. In fact, here are the top 21 value added services that we offer:
- Assembly
- Barcoding
- Bin Stocking
- Bonded Inventory
- Consignment Inventory
- Consolidated Billing
- Dock to Stock
- Drop Shipments
- Electronic File Sharing / EDI
- Electronic Funds Transfer (EFT)
- Just-in-Time (JIT) Delivery
- KanBan
- Kitting
- Long Term Pricing
- One Stop Shopping
- Quality Control
- Rebate Program
- Schedule Sharing
- Special Packaging – Bag and Tag
- Special Payment Terms
- Vendor Managed Inventory (VMI)
3 Inventory Strategies to Make Your Supply Chain More Efficient
In today’s competitive marketplace supply chain managers and procurement teams are constantly striving to cut costs without sacrificing quality. Stay a step ahead of your competitors by implementing one or more of the following inventory strategies:
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KanBan
Developed by Toyota in the 1950s KanBan controls the flow of product from the supplier to the production facility. KanBan allows manufacturers to replenish their inventory as parts are used instead of carrying large inventories. In addition, KanBan systems provide a means of forecasting demand so that shortages can be avoided. A key component of the KanBan system is the KanBan card. Now primarily electronic, KanBan cards indicate to the supply chain that more parts are needed. KanBan cards usually take the form of email messages or other electronic signals to the supplier. Once the signal is received the supplier ships the parts needed to meet production demand.
A simple example of a KanBan program is a three bin system. In the three bin system the first bin is on the factory floor (the point of demand), the second bin is in the factory warehouse, and the third bin is in supplier’s warehouse. When the first bin on the factory floor is depleted, the inventory is transferred from the second bin in the factory warehouse. At this point the KanBan card (electronic signal) is sent to the supplier and the parts are sent from the third bin (supplier inventory) to replenish the inventory at the factory warehouse (the second bin).
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Kitting
Kitting is the process of packaging parts together that are used in production assemblies. Instead of pulling parts from multiple bins for an assembly, a single bin containing kitted parts can be utilized. Manufactures can simply specify the required parts for the kit and the parts are packaged together. In addition to reducing assembly times, kitting reduces procurement and inspection times as well.
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Consignment Inventory
Consignment inventory is stock that is still owned by the supplier and stored in their warehouse but allocated to a specific client. Consignment inventory allows manufacturers to pull in stock as needed without incurring the costs of the parts and storing inventory immediately. Another benefit of consignment inventory is the ability to avoid shortages by having dedicated stock available.
bisco makes inventory management easy
As a full service distributor of electronic components and fasteners bisco industries offers KanBan, kitting, and consignment inventory capabilities as well as many other supply chain services. Regardless of your requirements we will work with you to develop and implement the solution that is right for you. To learn more about bisco’s inventory management solutions visit biscoind.com or contact a sales rep now.
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