Vendor Managed Inventory refers to an agreement between a supplier and a buyer. The supplier maintains a specified product in a certain amount for the buyer, and the buyer agrees to buy the inventory at regular intervals at a certain price. Also known as a blanket order, this enables better pricing as the supplier can buy the inventory in bulk and pass the savings onto you, the buyer. Furthermore, it ensures that the buyer always has their product when they need it.
Another type of VMI model that will optimize your inventory and maximize your cash flow is a bin stock program. One of our representatives comes to your warehouse to supply your bins with fasteners, tools, safety products, etc... Just like drawing up a blanket order agreement, this saves you money. Plus, it saves you a lot of time!
When we provide vendor managed inventory for you, we will save you both time and money. We don’t play games because we want to be your key supplier. We never use the bait and switch tactics employed by the large fastener chains. They entice you to do business by offering free storage bins if you sign a contract to buy their very expensive fasteners for an allotted time.
All of our employees have at least nine years of fastener experience. This coupled with our A1 customer service is how we achieve a 98% retention rate of our customers. In addition, we invest in the latest technology to keep up in this fast-paced industry.
We invite you to come visit us! We will show you our warehouse and quality control system. Or, we can pay you a visit at your location so we can set up a vendor managed inventory system for your needs.
We never use the bait and switch tactics employed by the large fastener chains.