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Approaches and Systems - Vendor Managed Inventory.
Because every business is different, Lawrence Screw offers multiple approaches to vendor managed inventory.
VMIJust In Time (JIT)Kanban
Just-in-time Kanban approach maximizes your return on investment, efficiency, and quality by reducing in-process inventory. By utilizing your MRP or requirements data we develop a schedule to meet your needs. This scheduling system uses real-time demand rates to determine production and supply, leading to better component management. We'll know what to produce, when to produce it and how much you'll need.
Consignment
Consignment can be provided with or without a Vendor Managed Inventory System. Consignment is a useful option for those who want to cut-down on unnecessary inventory. Lawrence Screw owns the inventory for you, so you'll only pay for what you use. We can take you to a zero inventory level. You have the parts you need to build you r products on hand but pay for them only when you use them.
Third Party LogisticsSupplier Reduction
If you have suppliers that are not able to provide Vendor Managed Inventory we can manage these suppliers directly as a "C" item or we can manage them with a 3PL program with no cost to you.
Local Warehousing
To make the most of your facility, let Lawrence Screw take care of storage. By keeping your inventory off-site, you'll free-up more space for production processes.
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