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Vendor Managed Inventory

Working in partnership with management, purchasing, and production staff, Friedman Electric can help you realize significant cost savings. The process begins with a comprehensive review of your acquisition procedures and systems. Alternatives are then recommended to improve overall efficiency. These solutions can encompass revised order entry procedures, automated inventory management, EDI, customer-specific catalogs for easy re-orders, management reports and more. One thing is sure: Friedman Electric's Vendor Managed Inventory will have a positive effect on your bottom line.

At Friedman Electric, we rely on state-of-the-art tools and methods. For example, we can establish an inventory database for stockroom personnel. Customized to your needs, using your part numbers, descriptions and drawings, this system will automatically re-order when minimum quantities are reached. Allowing stockroom personnel to assume responsibility for stock replenishment eliminated redundant purchasing procedures.

Once an order is transferred to Friedman Electric's Central Distribution Center, it is picked, packed and ready for shipment. This streamlined process simplifies procurement, eliminates stock-outs and significantly reduces your transaction volume.

Using Vendor Managed Inventory, we can provide summary reports detailing usage by cost center, or by item, turn rate, dead inventory, and service levels.

A key benefit of Friedman Electric's Vendor Managed Inventory is the ability to optimize your inventory mix. We review usage and determine the proper levels you should stock to meet your MRO or production requirements. Additional inventories can then be stocked at our CDC. Let Friedman Electric and Vendor Managed Inventory do the work and show you the way to better inventory management.

Program Features

Friedman Electric's VMI program combines periodic on-site inventory review, state-of-the-art technology and industry leading automated reporting to streamline ordering and inventory management supporting targeted productivity, service levels, and cost savings objectives.

Friedman Electric Initial Set Up

  • Item Set Up
  • Bar Code Labels
  • Crib Labeling
  • Reporting Set Up

Friedman Electric Provided Services

  • Periodic On Site Bin Reviews
  • Scanner Order Capture

Features

  • Auto Periodic Reporting (via email)
  • Scheduled Business Reviews

Options

  • Restock Services (Put Away)
  • Pre-order Review
  • Approval Workflow
  • Scan-to-Web Punch Out Integration

Solution Suite

  • Vendor Managed Inventory
  • Customer Managed Inventory
  • E-Procurement Integration