ASF Components details importance of vendor managed inventory.
Press Release Summary:
By providing outsourced procurement, inventory, and delivery, vendor managed inventory (VMI) supplier ASF Components manages class "c" components. Outsourcing toÂ VMI company will help control class-c components and their associated costs and make aerospace and automotive plants more productive. VMI companies can determine optimum/cost effective packaging combinations; manage inventory by plant, work cell, and individual bin; identify inactive/excess inventory to be repurposed; and more.
Original Press Release:
Why VMI is a Must for Aerospace and Automotive Fasteners
The aerospace and automotive industries go through more class “c” components than most of people can even imagine. The number of screws, bolts, clips and other industrial fasteners used on a daily basis is nearly incalculable. And the amount of time and money invested in trying to make sure the right parts are at the right place at the right time is hard to comprehend. And to justify.
That’s why vendor managed inventory [VMI has become the essential “go-to” solution for managing class “c” components.
The concept of VMI is really quite simple. Instead of trying to manage those class “c” components (which is like trying to herd cats), you outsource the procurement, inventorying and delivery to a vendor managed inventory supplier. There are many to choose from. One that has drawn much interest lately is ASF Components.
When you hire a vendor managed inventory firm, dramatic efficiencies can be realized almost immediately. This is particularly so in plants dealing with aerospace fasteners or automotive fasteners.
Here’s a quick example. Many people think they’re saving money by depending on leaner inventories of low cost parts. In reality, that is a very risky proposition. When a line comes to a screeching halt because the supply of fasteners has run out — well, the finger pointing gets pretty intense to say the least.
So instead, they may err on the side of caution and make sure they have more than enough class “c” components and fasteners in every warehouse, at every station, at all times.
That presents an entirely different kind of problem. It can mean large stockpiles of fasteners and clips that often go unused, can become obsolete, and eventually have to be discarded. Expensive and a waste of time.
Hiring a VMI company will take the load off your shoulders. You’ll no longer be spending a dollar to keep track of a dime.
Outsourcing to a vendor managed inventory company also provides many other headache-saving benefits. Your VMI firm can:
-Determine optimum/cost effective packaging combinations.
-Explore value packing of multiple components
-Improve assembly and packaging speed and efficiency
-Uncover “green” packaging cost-saving options
-Manage inventory by plant, work cell and individual bin
-Identify inactive/excess inventory to be repurposed
-Reduce in-plant inventory
-Design ergonomically correct workstations
-Develop schematics showing where on the plant floor the components need to be
-Ensure on-time orders, shipments and payments
The improved technologies and process provided by a VMI organization will make it far easier for you to control of your class-c components and their associated costs, make your aerospace or automotive plant more productive, and put an end to that finger-pointing.