by Andy Thomas

Supplier Managed Consumable Inventory: A Better Choice for Your Business

 

In the world of inventory management, there are two main approaches for managing consumable inventory: customer managed, and supplier managed. While both have their own benefits, there are clear advantages to going with a supplier managed consumable inventory system.

One of the biggest benefits of supplier managed consumable inventory is the reduction of costs. By outsourcing the management of your consumable inventory to a supplier, you free up resources that would otherwise be dedicated to managing your inventory. This can result in a lower cost of goods sold, improved efficiency, and a better overall return on investment.

 

Another advantage of supplier managed consumable inventory is improved accuracy and reliability. Suppliers are often able to use their expertise and technology to manage your inventory more effectively and accurately than you could on your own. This can lead to improved forecasting, reduced waste, and a lower risk of stockouts.

 

Additionally, supplier managed consumable inventory can also improve supply chain visibility. By partnering with a supplier, you can gain access to real-time information about your inventory, including current levels, trends, and future demand. This can help you make more informed decisions about inventory management, and ensure that you always have the right items in stock when you need them.

 

Finally, supplier managed consumable inventory can also lead to better customer service. By outsourcing the management of your consumable inventory to a supplier, you can free up resources that would otherwise be dedicated to managing your inventory. This can result in improved order fulfilment times, reduced lead times, and a more consistent level of customer service.

 

In conclusion, there are many benefits to choosing supplier managed consumable inventory over customer managed inventory. Whether you are looking to reduce costs, improve accuracy and reliability, increase supply chain visibility, or improve customer service, a supplier managed inventory system can help you achieve your goals and grow your business.