Having too little or too much inventory can be a challenge for your company resulting in loss of valuable space, products, and sales. Vendor Managed Inventory can help improve performance.
What is Vendor Managed Inventory?
VMI, or Vendor Managed Inventory, is an inventory replenishment arrangement through which Austin Hardware either monitors your inventory or receives stock information from you. The goal of VMI is to turn inventory 12 times per year and maintain appropriate stock levels for all parts.
Austin Hardware uses a state-of-the-art forecasting tool with 18 different models, which analyze your parts and quantities. We conduct full inventory usage analysis quarterly to make sure all products are performing and make stock level changes if necessary.
Accurate, Money Saving Results
With VMI, you are not just getting a supplier, you are getting a partner who understands your needs and offers an accurate control of inventory stock levels for parts.
“We’ve been using the VMI program for several years and it’s been great. The product is here for our use as we need it without tying up money to have it sitting in our inventory. We pay for it as we use it, and it can be adjusted anytime according to our current demand.
“It also saves us on shipping fees. Instead of having multiple charges I can do an upload once a week and they’ll ship everything together. It saves us time from checking items to see if we need them, to knowing that they will be replenished as we use them. The VMI program has been an asset to us, having the product here and saving money and down time.”
Become an Austin Partner
Is your business currently struggling with maintaining and managing inventory? With over 55 years in business, Austin Hardware is committed to helping you solve issues of quality, price, availability, application, and more. The Austin Advantage may be exactly what your company needs.
Read more about Vendor Managed Inventory and its benefits in this original Austin Hardware white paper.
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