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.
VMI Solutions from bisco industries: Bonded Inventory
Bonded inventory (also known as dedicated inventory) is a value added service that bisco offers our clients. Bonded inventory gives you the advantage of high-volume pricing and immediate availability. bisco will stock your dedicated inventory in one of our 7 strategically located warehouses and even use your own custom part numbers. Our bonded inventory program ensures that your products will be delivered on time – at the right time.
Benefits of bonded inventory include:
- Reduced inventory carrying costs
- Automatic and targeted inventory shipments preventing production down time
- Reduced costs by obtaining next price break discounts
Contact your dedicated sales rep to develop a bonded inventory package that meets your unique requirements.
3 Reasons Why You Should be Using Vendor Managed Inventory (VMI)
What is Vendor Managed Inventory (VMI)?
VMI is a customizable solution that contracts out management of a company’s inventory for an item or group of items to a supplier. Companies provide suppliers access to all pertinent information such as demand forecasts, required inventory levels, and shipment schedules. Based on this this shared information the supplier then assumes responsibility for maintaining inventory and ensuring all demand requirements are met. VMI offers several benefits to users including:
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VMI Minimizes the Risk of Shortages
One of the primary advantages of VMI is ensuring that parts are available when demand arises. Suppliers can work directly with component manufacturers to manage lead times and maintain adequate inventory to meet forecasted and even unanticipated demand. This in turn reduces production shortages allowing the client to meet delivery schedules on time.
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VMI Reduces Inventory Management Costs
By choosing to use VMI, businesses can not only minimize the risk of having a line down but also reduce inventory management costs. This is because VMI allows the parties involved to focus on their core competencies (what they do best). For example, a toy manufacturer can concentrate on producing their toys more efficiently without spending valuable time managing inventory. At same time the VMI provider can concentrate on ensuring all components are available for the next production run of toys. The result is cost savings through increased efficiencies.
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VMI Means Increased Revenue
In many cases end customers see the benefits of Vendor Managed Inventory (VMI) in the form of consistent on-time delivery, fewer quality defects, and even reduced costs. The bottom line result is increased customer satisfaction leading to future revenue growth.
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