Vendor Managed Inventory
Do you want better control over your consumables and spare inventory while reducing the administrative expense for managing them?
We provide a unique inventory management system for your consumables and spares. There is no one size fits all. We recognize that every facility is different, and every production line has different requirements. We work with you to only put the products you need at the quantity you need on the shelf and we make sure it is there when you need it. Helping you to reduce administrative expense, lost time and waste.
Have you heard this before? But, when it came down to it, the vendor you were working with overstocked parts you will never use, you were always short on a couple items you needed to have on hand, and there were some things that they could not help with because they did not know what it was. We have heard it and seen it. We can prove that we handle VMIs differently when you give us the opportunity. We can tell you that over the last ten years we have had 95% retention of our VMI accounts.
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What is a VMI?
A vendor managed inventory is a portion of your consumable and spare parts purchasing that is maintained by an outside vendor. By maintained we mean, the vendor is responsible for maintaining the stock levels and organization of these parts in your facility.
Who is a VMI for?
VMIs work across all industries. The items that it works best for have high turnover, such as maintenance hardware, janitorial supplies, and production items like abrasives, cutting tools and coolants. Facilities looking to reduce:
- Stock outs
- Inventory investment
- Processing costs
How does a VMI work?
Together we create a list of items and the quantities you want to keep on hand. Choice Industrial Solutions draws up a proposal based on this list and you decide the PO and billing schedule: once a month, blanket, or more frequently. You decide the inventory levels and we work with you to make sure that these parts are organized and properly stored. We come in and check the shelves on an agreed upon schedule.