HOW AN INNOVATIVE APPROACH TO VMI IS DRIVING GROWTH AT FIELD

摘要

There was a time when a fastener supplier was simply a fastener supplier and nothing more. The introduction of Vendor Managed Inventory (VMI) systems in the late 1980s, however, changed all of that. Today, these systems have become standard practice in the industry. Very simply, Vendor Managed Inventory is the practice of giving your suppliers the responsibility of maintaining your inventory in a given manufacturing facility or across an organization. Assigning this job to your suppliers can reap many rewards for your company, including improved inventory turns, reduced "total cost of ownership," greater product availability and reduced administrative costs. VMI is steadily expanding as more companies experience enhanced productivity and better utilization of their cash and resources. As VMI's popularity has grown over the years, so too have the distributors and suppliers that have positioned themselves as effective VMI partners. Field realized this fact more than 20 years ago when they first began implementing VMI. Now, with the evolution of technology and a more globalized supply chain, the Field team has been hard at work reinventing VMI to meet the challenges of a whole new world.