What would you do with the time and money saved if you didn’t have to deal with the daily tedium of procurement? Or if you could, with just a few clicks, generate a report detailing your usage or expenses by quarter, job, or even machining cell? How much could you grow your business with those added resources, information, and productivity? In other words, why haven’t you made the move to Vendor Managed Inventory with Haggard & Stocking?
Every day I wonder why all manufacturing facilities are not doing this. There is not one single drawback. At its most basic level, VMI is having someone keep inventory of every item in your facility. When you run low, it triggers a purchase and replenish in our system. We bring it and even put it in the proper spot that you have designated. Our relationships with industry leading brands allow us to handle everything in your facility, from tooling and MRO products, to safety and material handling supplies.
The saying “time is money” is a familiar cliche because it rings true, especially in manufacturing. In many cases, just the convenience of not having to keep track of every small detail is a savings. Any shop owner hates having that moment when you find yourselves with a job to do and no tools, and downtime is another cost we can help you avoid. In almost every case, we can save both time and money within the first year. In one customer example, we showed $30,000 both soft and hard cost savings!
Another feature of Vendor Managed Inventory is that our process can be adapted to any facility, any location, and any item, from Scansys Bin Stocking to automated vending machines. I currently manage inventory in the micron size up to 330-gallon totes of chemicals. A well set up system will help you identify your target items and assign convenient locations. You set the quantities you want to be dispensed, and you can utilize the items you already have in the plant! This becomes a true partnership where cutting cost is the key.
Lastly, the reporting capability is endless: have inventory usage at your fingertips to know who uses what when and even why. VMI systems that are automated can have stipulations that include having an employee tell the system for what job they plan to use the product for. VMI keeps track of what item is being used, how many of that item, when the items were taken and for what job or purpose. Every VMI is tailored to what you want to accomplish.
Start the process of getting a handle on your inventory with a custom Vendor Managed Inventory program with Haggard & Stocking. Let us help you by calling today!
