Visible Inventory VMI Solution Enables Vendors to Know Precisely When Parts
Replenishment is Needed, Eliminates Need for Physical Site Visits
SALEM,
NH, October 27, 2003 ?Visible Inventory, an industry-leading provider of true
real time inventory management solutions, has introduced full automation into
the Vendor-Managed Inventory (VMI) process. Visible Inventory™s VMI solution
eliminates the need to physically count on-hand inventory, and allows vendors
and their customers to share inventory information continuously with each other.
This reduces inventory levels and the associated costs of overstocking
throughout the supply chain.
Stephen Donovan, Vice President of Sales and
Marketing for Millennium Logistics Management, said, ny supply chain is only
as strong as its weakest link. Research has demonstrated that more than 37% of
sales dollars are buried in logistics expenses from vendor to customer. Floor
stock inventory is a key link as it can impact the cost of a part drastically.
We work with clients daily in finding solutions to get otal visibility?and
real time visibility is the closest we can get to manage the cost of
replenishment to its lowest level.?BR>
œBusinesses have spent enormous sums
of money implementing older VMI systems that have not returned the expected
investment,?said John Toomey, CEO of Visible Inventory. œThe cost of Visible
Inventory™s VMI
 system is a fraction of what
other systems cost, and the return on investment is achieved in weeks, not
months.?BR>
Toomey continued, œOther solutions attempt to address the
demands of VMI. However, the existing solutions, which commonly involve bar
coding and manual cycle counts, require human intervention. RFID holds promise
but currently it is too expensive and awkward for most organizations and
inventories. Visible Inventory™s VMI solution takes VMI to the next level. Our
fully-automated solution results in significant time and labor savings for
vendors, and, by enabling customers to reduce inventory levels, cost savings as
well.?BR>
Visible Inventory™s VMI solution uses its own iSeries of sensors
to continuously measure inventory levels. As an item is removed or added to a
bin, shelf, or pallet, quantities are dynamically updated. The customer™s rules
for reordering enable Visible Inventory™s SuppliLink application to initiate the
appropriate action. For example, if inventory dips to a pre-determined level,
e-mail notification could be automatically sent to a supplier indicating that an
item is below replenishment quantity and needs to be refilled. At the same time,
the supplier has total visibility into the inventory status of their customer,
so they only have to act when needed, based upon actual information.
By
design, the Visible Inventory system is simple to install, simple to implement,
and simple to use. User training can be completed in less then four hours. All
information can be downloaded to Excel or text files for integration into
popular SCM or ERP systems.
About Visible Inventory
Visible
Inventory, Inc. is an industry-leading provider of true real time inventory
management solutions that enhance the performance of existing ERP, SCM and MRO
systems. Inventory activity is automatically executed upon in real time
maintaining minimum inventory levels and providing accurate inventory
information across the entire supply chain. The core of Visible Inventory's
solution is the company™s SuppliLink (TM) intelligent software, which seamlessly
interfaces with the iSeries family of sensors. SuppliLink coupled with the
company™s iVision (TM) Internet communications software, enables today™s most
progressive supply chain practices to achieve their full potential. A
complementary and collaborative solution is Visible Inventory™s offering to
manufacturers, distributors, and others wishing to optimize inventory levels,
replenishment cycles, and vendor or customer partnerships. The SuppliLink
solution enables customers to reduce costly part and critical supply shortages,
decrease labor costs, and maximize inventory turns to free up valuable working
capital. For more information, call 603-894-5558 or visit www.visibleinventory.com. |
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