Vendor Managed Inventory Software: Streamlining Supply Chains

Have you ever been to a restaurant and ordered something you wanted only to be met with, “I’m sorry. We’re fresh out of that.” 

Disappointing, to say the least. Now, imagine that same level of disappointment but in your repair shop. Your customers come in hoping to get their beloved gadgets or vehicles fixed, and you have to break the news that you’re out of the part they need. Yikes!

So what’s the secret weapon to streamlining your supply chain, saving you from inventory nightmares, and avoiding hangry customers? Vendor-managed inventory software. 

What is Vendor Managed Inventory (VMI)?

With traditional ordering, it’s up to YOU (and you alone!) to keep track of all your inventory, place orders, and hope everything arrives on time. It’s like juggling flaming torches on a unicycle—impressive, but also a bit terrifying.

But with VMI, the vendor (yes, the very folks who supply you with your goods) takes over the reins. They monitor your inventory levels in real time and automatically restock items based on pre-set levels and your shop’s usage patterns. 

To put it simply, VMI flips the script on traditional inventory management. Instead of your team managing the inventory, your vendor does it for you. It’s smoother, smarter, and saves you from those unexpected “oh-snap” moments when you realize you’re out of crucial parts. Plus, it frees up your time to focus on what you do best—running your shop and keeping your customers happy.

How Vendor-Managed Inventory Works

Sounds nice, right? Maybe a little too nice. Let’s get into the nitty-gritty of how VMI works so you can better understand just how it all plays out.

Real-time Stock Data Sharing

VMI software constantly monitors your stock levels and shares this data with your vendor in real time. No more surprise shortages or overstocking! 

Restocking Based on Pre-set Levels

You set the rules, and the VMI software follows them to the letter. Set minimum and maximum thresholds part by part to avoid under or overstocking.

Automated Ordering Alerts

VMI can automatically send alerts when stock levels dip below a certain point. It’s like having a personal assistant who always knows when to reorder your favorite snacks before you run out.

Usage Pattern Analysis

Collect valuable inventory reporting and track past orders to look for trends. Busy season? No problem. The right data helps you know when to adjust your inventory thresholds so you’re always ready to roll.

In a nutshell, VMI works like this:

1. Data Sharing: The vendor monitors your stock levels in real time.
2. Pre-set Levels: Set different thresholds for different parts in your inventory 
3. Automated Alerts:  Get automatically notified when parts hit their minimum threshold.
4. Smart Adjustments: The system adapts to your buying behaviors to keep everything running smoothly.

So, while you’re busy doing what you do best—fixing stuff and making your customers happy—VMI software is behind the scenes, ensuring your inventory is always on point. 

No more stockout stress, no more manual management chaos. Just smooth, streamlined supply chain bliss.

6 Advantages of VMI

Can you feel the efficiency already? For a bit of icing on the cake, check out the top perks of VMI below.

No More Stockouts
Say goodbye to those dreaded “Sorry, we’re out of stock” moments. With Vendor managed inventory software, it’s easy to proactively replenish your inventory so you never run out of the parts you need.

Reduced Management Workload
With one less thing off the team’s plate, they have more time to focus on what they do best.

Stronger Vendor Relationships
Data sharing builds trust and collaboration. VMI can also keep track of your ordering history and help you pinpoint which vendors offer the best deals.

Optimized Storage Space
The last thing you need is a cluttered stockroom, and VMI helps you optimize your storage space and keeps just the right amount of inventory on hand.

Improved Cash Flow
With VMI, you can avoid last-minute orders with rush delivery fees. And, like mentioned previously, you can better track vendor pricing trends over time and figure out who’s offering you the best prices. 

Enhanced Forecasting
VMI collects juicy data like purchase history and order behavior to help you make smart predictions about your inventory needs.

Fullbay Never Runs Out of Stock 

Since Fullbay is a software, and all. We don’t have to worry about running out of subscriptions or anything like that. And our solutions can help your heavy-duty repair shop avoid running out of stock, too.

With inventory management features like easy parts ordering, automated inventory alerts, real-time parts tracking, and more, you can transform your inventory management from a chaotic juggling act to a smooth and efficient process. Check it out for yourself with a free demo!