The use of VMI has gained acceptance in many industries. What was once thought of as an experiment, has now become the preferred way of doing business.
This newsletter keeps you informed on the increasing growth of Vendor Managed Inventory. The recent news articles and press releases found within explore the innovation that is becoming the standard throughout the business world.
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Stacey Pandeloglou - The Electrical Distributor (TED) Magazine
Kirby Risk of Lafayette, Ind., finds efficiencies and productivity increases with VMI implementation; VMI is a key component of its overall supply chain strategy.
The Wholesaler Magazine
As a wholesaler considering participating in a supplier’s Vendor Managed Inventory program, you might be asking yourself, “Why would I let a supplier manage my inventory?” It may seem counter-intuitive that you can improve inventory management and increase sales by allowing suppliers to maintain your inventory. But more and more wholesalers are doing just that with key suppliers. In fact, many wholesalers are now encouraging suppliers to include them in their VMI programs. Why? Because for you, the wholesaler, it results in increased sales, improved inventory turns, and reduced administrative costs.
Free PDF and eBook downloads of articles and books on Vendor Managed Inventory
Written by Christine Cignoli, SearchManufacturingERP.com.
Learn the benefits of vendor-managed inventory (VMI). Find out how to get started with VMI implementation. Read how VMI reduces excess inventory.
The answer to this question is MAYBE YES or MAYBE NO; it all depends on what your healthcare organization’s operating philosophy is! It’s been my experience that many vendors do an excellent job of managing a healthcare organization’s forms, office supplies, sutures, stents, pacemakers, orthopedic inventories, etc. This can provide a value added service that is hassle-free, low cost (or no cost) and saves your hospital inventory dollars over the short and long term.
With operational & logistic savings, improved production scheduling, as well as benefits in sales, purchasing and administration, is it the corporation or the enviroment that gains the most from the use of Vendor Managed Inventory (VMI)?
The issues that companies face when they decide to build a solution in house are numerous: Scarce development resources, project cost overruns, delivery delays, unexpected technical issues, long-term maintenance issues. For these reasons, you should consider purchasing hosted, flexible, "out-of-the-box" Vendor Managed Inventory and web-based solutions.
Do you have a comprehensive list of critical spare replacement parts identified for each constraint and critical equipment? If not, it should be a high priority to develop them. Once you have them, make sure each of the critical spare parts has a specific parts plan identified and documented. Vendor-managed inventory, consignment, repair vs. replace and other strategies may be appropriate and cost-effective ways to mitigate risk and minimize cost.
Weldon Parts, Inc., a leading distributor of heavy duty truck parts in Oklahoma, Texas, Florida, Arkansas, and Missouri, has effectively partnered with Velvac, one of their key suppliers, to implement Datalliance Vendor Managed Inventory. Weldon has realized increased sales of Velvac products by 24% and has improved the efficiency of their order process by as much as 80% as a result of participating in Velvac's VMI program. The complete case study article can be viewed at http://www.datalliance.com/successstories.html.
Managing Automation's PM100 Awards Recognize 100 Top Projects That Have Achieved Distinction in Core Manufacturing Disciplines
Hubbell Inc., recently won the Progressive Manufacturing 100 (PM100) Award based on the success of Hubbell's Vendor Managed Inventory program. The PM100 awards recognize 100 projects that have achieved distinction in at least one of eight core disciplines defined by Managing Automation Media as critical to business success in the years ahead. Hubbell's VMI program was recognized in the "Customer Mastery" category.
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