Vendor Managed Inventory (VMI)

The Coriel VMI solution provides the reliable item identification required to run a remote stock location on a customer site

Vendor-Managed Inventory (VMI)

Vendor-Managed Inventory (VMI) make perfect sense for both the vendor and the end-customer. For the vendor, they can ensure parts are with their customers instantly, easily hold customer-specific SKUs and significantly reduce the amount of physical space they need for storing stock. For the customer, they get instant access to parts as they need them and typically only pay for them once they have been consumed. However, the complexities around managing a remote stock location, accurately managing inventory levels, and ensuring the customer is invoiced reliably often mean that the significant benefits to be derived are overlocked. 

The Coriel VMI solution provides the reliable item identification required for you to run a remote stock location on a customer site, with the same level of confidence as your own inventory locations.

Why would you want to implement Vendor-Managed Inventory?

benefit from

Significantly lowering central inventory requirements

A huge benefit of providing VMI services to your customers is the significant cost savings that can be realised through the utilisation of their on-site space rather than a large central inventory warehouse. In line with a reduction in space requirements, you will additionally see a reduction in the need for warehouse personnel and equipment – leading to lowered insurance and utility costs and less chance of any accidents across your sites.

benefit from

Eliminating low volume, expensive transit costs

With modern online purchasing driving the expectation for instant, next-day delivery, businesses need to make huge investments in warehousing, people & processes in order to service thousands of packages leaving every day. Working with customers on a VMI basis allows you to create an initial large stockholding on their site, which is then topped up periodically based on their requirements. This makes the operation more manageable on an ongoing basis.

benefit from

Creating long-term partnerships with your customers

The benefits of VMI to the end customer are invaluable, as they essentially have stockholding to hand 24/7 but without the need to manage the stock or hold the value on their books. Their ability to manage their operations based on this soon becomes critical, which puts suppliers who offer VMI in a great position to create long-term contractual relationships that benefit both parties – often over contract periods that span several years.

Significantly reduce low-volume transportation costs/CO2 emissions

Better manage cashflow, with instant per-use billing and payments

Virtually eliminate the need to run dedicated stock-taking exercises

Why our customers choose us

Without reliable technology controlling remote stock levels, VMI becomes impossible to implement. Coriel have a strong track record of identifying the location, movement and use of items of all sizes – providing instant, connected data that allows you to control a remote inventory location as reliably as if it were on-site.

Where is this solution being used?

SOLUTIONS FOR

Rail & Freight

  • Improve safety by identifying problems ahead of time

  • Connect parts with online maintenance records

  • Gain advanced notification of freight arrivals

  • Identify parts & assemblies to component level

SOLUTIONS FOR

Returnable assets

  • Gain complete visibility of your entire asset pool

  • Facilitate per-movement charging to customers

  • Maintain an online record of usage & maintenance

  • Run proactive maintenance, washing & repairs

SOLUTIONS FOR

Manufacturing

  • Streamline production and enable JIT manufacturing

  • Optimise returnable assets around the supply chain

  • Operate virtual stock locations and VMI

  • Maintain online records of components & assemblies

SOLUTIONS FOR

Oil & gas

  • Monitor & manage the location & health of pipes

  • Maintain an audited & accurate maintenance record

  • Ensure replacement parts are genuine

  • Control and manage the location of expensive tools

Explore other relevant service areas below

explore

Production line visibility

  • Track the status of your WIP items

  • Reduce hold-ups across the production line

  • Identify bottlenecks and quickly rectify

explore

Item level identification 

  • Link your physical items and cloud based data

  • Hold essential information for instant access

  • Facilitate on-demand production

explore

Stock Management

  • Understand your stock levels

  • Reduce your overall stock holding

  • Increase accuracy of manual stock counts

explore

Warranty & post sales management

  • Verify warranty covered items

  • Link physical items with cloud based documentation

  • Introduce alerts on out-of-warranty events

explore

Maintenance, Repair & Overhaul

  • Accurately track your tools

  • Carry out automated maintenance checks

  • Ensure maintenance accuracy

Get in touch