Problems with inventory management can degrade productivity and negatively affect your bottom line. When tracking down inventory becomes time-consuming, it causes disruptions that waste valuable resources and time. At Field, we provide a vendor managed inventory program for fasteners that produces increased efficiency and cost savings.
Effective fastener inventory management through the implementation of these tasks:
- Simplify the Supply Chain and Minimize Your Vendors
One of the most effective ways to maintain necessary fastener stock levels is to simplify the supply chain and consolidate how many vendors you collaborate with. Your supply chain’s performance is inextricably tied to your manufacturing success. If you work to develop a successful supply chain, you will be among the small percentage of companies that do so. Vendor managed inventory fasteners can give you an important advantage among your competitors.
Working with multiple vendors can mean many moving parts at the same time which are difficult to control. By consolidating suppliers, you can minimize complexity and headaches, promoting a smoother operation. It can mean less time organizing your warehouse and taking care of shipments and purchase orders.
- Purchase Inventory Management Software
The implementation of inventory management software is one effective way to ensure an efficient inventory management system. Such a system will allow you to track and streamline inventory levels, locations, picklists, and more.
Inventory management software can give your business the data and statistics it needs about inventory to help you streamline ordering and save money. The automation involved in the process can minimize errors and save you and your team time and effort.
- Work with a Tier 1 Fastener Distributor
Distributors that supply parts directly to OEMs are a crucial part of the supply chain. These Tier 1 fastener distributors carry the inventory and have the technology to manage the necessary demand planning and blanket shipments. You can help ensure optimum performance in your business by working with a Tier inventory management system.
By simplifying your supply chain through an effective fastener inventory management system, you can keep fasteners in stock and increase your efficiency, productivity, and bottom line.