Vendor managed inventory (VMI) is not a new concept, but it’s one that many merchants still do not adopt as part of their business strategy. Yet, when executed correctly, a vendor-managed inventory strategy can bring huge benefits to your business.
Vendor Managed Inventory Solutions
The main goal of a vendor-managed inventory relationship is to make sure the retailer only buys what they’ll sell. They maintain close contact with the supplier, aided by technology, so that they can purchase stock in smaller batches, more frequently. Vendor managed inventory is beneficial in a variety of ways, some of which include:
- Fewer stock outs
- Less inventory
- Improved forecasting ability
- Increased accuracy of ordering and fulfillment
- Improved supply chain stability
- Closer partnerships
These inventory management solution benefits all add up to a better customer experience, which will ultimately drive your customers back to your business time and time again.
Contact Fastener Solutions Today
Save both time and money with our Vendor Managed Inventory (VMI) program. By collaborating with Fastener Solutions, you can free up the time you normally spend managing inventory as well as eliminate errors such as duplicate ordering and overbuying. Unlike, SAIM where you manage the inventory yourself, we will do the work for you, so you can manage your day-to-day business operations.