How Vendor Managed Inventory (VMI) Reduces Supply Chain Waste-4-of-7-Waiting-Waste

Waiting time waste is defined as people or things waiting around for the next action. Forms of time waste include, but are not limited to production down time, lengthy processing times, long lead times, and approval processes.

How VMI Services Reduce Waiting Time Waste
Simply stated, the product is at the point of use in sufficient quantity to meet production requirements. The VMI service provider is working behind the scenes with their suppliers to ensure the customer has an adequate supply of inventory and that there is no interruption of production due to stock-outs or delays in lead time. This is especially valuable for custom parts that run on longer lead times.

  • There is no need to “chase” parts in the plant or with the supplier.
  • Freight/expedite costs are covered by the VMI service provider (since expedites, in theory, should diminish over time).
  • Plant personnel can focus on meeting customer delivery requirements.
  • Purchasing personnel can focus on the top 20% of their purchases that are 80% of their overall spend.
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Reliable Stock™ Lean VMI Solutions by Falcon

Falcon’s Reliable Stock™ lean VMI program delivers 100% production uptime efficiency and reduces your lead times, while lowering your overall inventory investment in class C production components and fastening supplies. Download the Reliable Stock™ brochure today to find out how you could be saving time and money.
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2018-12-03T11:16:01-04:00November 25th, 2018|Categories: Inventory Management, Vendor Managed Inventory (VMI)|

About the Author:

Aaron is the Marketing Director at Falcon Fastening Solutions, Inc. He is focused on sharing Falcon's unique approach to fastening and class C production component supply chain solutions with equipment manufacturers.

Fasteners and Class C Component Supply

Falcon supplies fasteners and inventory management services to manufacturers in North and South Carolina, Kentucky, and the surrounding areas.

Charlotte Office

10715 John Price Road
Charlotte, NC 28273

Phone: 800.438.0332

Mobile: 704.588.4740

Mailing Address

P.O. Box 7429 | Charlotte, NC 28241-7429

Phone: 704.588.4740

Fax: 704.588.5753

Kentucky Office

11536 Commonwealth Drive
Louisville, KY 40299

Phone: 502.266.6292

Fax: 502.526.5567