Cost Saving Inventory Management Programs
Century’s VMI solutions support various methods of product replenishment. All are supported by a rigorous front-end process of analytics that incorporates your historical usage data, trends for product-line specific issues, bills of material (if applicable for VMI kits or assemblies), and your forecasts.
Century specializes in the highest level of customer service for OEM’s who want Century to manage more than just standard fasteners through a VMI program. The great majority of material that Century provides to its VMI customers is unique to one customer. Most of Century’s OEM customers provide weekly MRP data to Century so that Century has the best possible visibility to demand for long lead-time parts and to projected changes in demand from month to month.
In addition to EDI transmission, Century receives forecasts/MRP data from customer portals or customer email messages containing Excel or Access files. Century has dedicated IT resources supporting its inventory management programs and customizes the integration of customer data with Century’s inventory management system for each OEM customer. The MRP analysis and the short-term material replenishment process work hand-in-hand to anticipate the changes in your production schedules so that material is available even when your production rates are increasing.
Material Replenishment Process
Whether you select the in-plant store option or the bin stocking option, Century offers many methods for improving product availability and space utilization in your production areas for the products that are included in the VMI program. The two-bin method is the most common, followed by Kanban and single bin methods. Century will work with you to determine placement of barcode labels on bins or shelving and Century will scan the barcodes to identify parts that require action. For customers who do not provide MRP data, Century can set up a pull system that replenishes bins according to defined parameters for usage fluctuations.