Fasteners play a crucial role in many applications and projects. Without them, things could quite literally fall apart. That is why it is so important to ensure that there is a lasting, readily-available supply to meet the needs of your business.
With vendor-managed inventory fasteners, there can be a resolution to all of those fastener concerns. The goal is ultimately to increase availability, turns, and (most importantly) efficiency.
What Does VMI Offer?
The goal of a fastener vendor-managed inventory is simple. In the end, it is about reducing a number of different things. VMI reduces inventory concerns, aggravation, overhead costs, procurement time, and, most of all, costs.
Being able to refine the entire process, ensure that there is necessary fastener inventory, and cut down on costs is something that any business would love to do. With the help of vendor-managed inventory fasteners, that is precisely what you can achieve.
To put it simply, vendor-managed inventory is where a supplier assumes the full responsibility for managing the inventory of the buyer at that buyer’s location. Utilizing the right tools, it becomes much easier and simpler to manage that inventory effectively.
In the end, it allows buyers to not only try but to manage hundreds, if not thousands, of different part numbers. It all comes down to the ability to utilize real-time communication with the global supplier base and the customer’s own inventory base to become more effective.