October 10, 2017
We prepared a quick explainer video on the benefits of vendor managed inventory VMI and 8 steps to implementing it. We aim to debunk the myths around logistics services, and illustrate the benefits to all manufacturers.
Use a vendor managed inventory system to boost productivity
At a fundamental level VMI is an inventory management, product supply and replenishment arrangement whereby your VMI partner utilises their logistics expertise to fulfill these functions, and collaborate with the manufacturer on a lean supply chain solution.
VMI turbocharges your inventory management and order fulfillment.
In terms of raw benefits, with a VMI implementation you can see:
- x3 Increased inventory turnaround
- 25% Inventory and lead time reduction
- 5%+ Increase in profit
You can find more about our VMI services here. We also have a more in-depth look at why the advantages for OEMs in using vendor managed inventory.
And if you appreciate the video, please like it on YouTube and subscribe to our channel.
