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    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 consumed. You can learn more about a Consigned program HERE.* 

    * It should be noted that the benefits of Consigned expressed here are relative to Consigned VMI, not simply Consigned inventory. One can have Consigned inventory absent a VMI program.

    The more traditional of the two programs is Non-Consigned VMI. In a Non-Consigned program, the customer pays for the inventory as it’s brought in, and whenever replenishment is necessary.

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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

    Is Consigned Vendor-Managed Inventory (VMI) the Right Choice for Your Business?

    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 on hand. When the customer uses or sells the inventory, the supplier THEN gets paid. There are a few reasons why this works, but a big one is that the customer frees up capital that would otherwise be needed to purchase the inventory in advance. This creates a form of financial security and freedom for the customer.

     

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    Topics: Vendor Managed Inventory, inventory management

    Learn Our Top 7 Benefits of Vendor-Managed Inventory for Your Business.

    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.

    By letting the right provider manage your inventory, you can invest time in building relationships, increasing sales, and tackling other things that help your business reach long-term success.

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    Topics: Vendor Managed Inventory, inventory management