Austin Hardware® Resource Center

Inventory Management Reporting and KPI's

Posted by Austin Hardware on Jun 11, 2019 10:09:33 AM
     The Importance of KPIs The use of impartial, dispassionate data to measure business success is critical. It reassures you when you’re doing something correctly, and helps you make adjustments to your plan when needed. These metrics, often referred to as Key Performance Indicators (KPI's) apply...
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Topics: Vendor Managed Inventory, Warehouse Management, inventory management

Why Your Replenishment Process Needs To Include Vendor Inventory Management

Posted by Rob Dell'Elmo on May 1, 2019 11:00:00 AM
For many companies, a Vendor Managed Inventory program is a better way to handle replenishment. The natural question for you to ask now is … why? What are the benefits of having a supplier manage MY inventory?  In a word … MONEY. Now that’s obviously an oversimplification. But when you break it...
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Topics: Vendor Managed Inventory, inventory management

Vendor Managed Inventory Control Options (VMI)

Posted by Rob Dell'Elmo on Apr 26, 2019 11:00:00 AM
There are a number of options, and plenty of decisions to make for companies considering a Vendor Managed Inventory (VMI) program. Depending on a company’s goals, budget, and available resources they’ll have to decide on the type of VMI program, to what extent the VMI provider’s personnel will be...
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Topics: Vendor Managed Inventory, inventory management

Two Bin Stocking System - Warehouse Inventory Management

Posted by Austin Hardware on Apr 17, 2019 9:50:00 AM
Are you a manufacturing company? If so, does your business depend on inventory to get by? If you answered yes to one or both questions you might be familiar with a two-bin system. A widely used inventory management system, a two-bin system basically deals with two bins to help you or your team keep...
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Topics: Vendor Managed Inventory, inventory management

Inventory Management | Non-Consigned Vendor Managed Inventory

Posted by Rob Dell'Elmo on Apr 2, 2019 11:00:00 AM
There are two types of VMI program – Non-Consigned and Consigned. Both Non-Consigned and Consigned VMI programs offer customers a similar list of benefits, which you can read more about HERE. In a Consigned VMI program, the inventory is put in place, but the customer doesn’t pay for it until it’s...
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Topics: Vendor Managed Inventory, inventory management

Inventory Management Designed To Improve Your Bottom Line.

Posted by Austin Hardware on Mar 4, 2019 11:02:33 AM
There are many ways that selecting the right Vendor Managed Inventory (VMI) partner can simplify your business and help you to start saving time, money, and improve your bottom line. Let’s break down what VMI is all about.
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Topics: Vendor Managed Inventory, inventory management

Consignment Inventory Management (VMI)

Posted by Austin Hardware on Mar 4, 2019 10:28:24 AM
So, what exactly is Consigned Vendor Inventory Management? Let’s break it down into two parts – Consigned Inventory and Vendor Managed Inventory. Consigned Inventory is inventory that is still owned by the supplier, but the customer has it on hand. When the customer uses or sells the inventory, the...
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Topics: Vendor Managed Inventory, inventory management

7 Great Vendor Managed Inventory Benefits

Posted by Austin Hardware on Feb 7, 2019 4:31:00 PM
Vendor Managed Inventory or VMI is an inventory replenishment strategy in which the supplier monitors and may even physically replenish the customer's stock. When you form a VMI relationship with a provider, they handle the stress of inventory so that you can focus on other aspects of your business.
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Topics: Vendor Managed Inventory, inventory management