For Builders Merchants and Hardware stores, adopting Vendor Managed Inventory (VMI) can transform inventory management into a streamlined process leading to enhanced sales and customer satisfaction. VMI shifts the responsibility for inventory monitoring and restocking to suppliers, freeing merchants from having to constantly manually manage stock levels. This approach effectively reduces the risk of both shortages and overstocks along with boosting overall supply chain efficiency – crucial for keeping shelves stocked.
The data-driven nature of VMI provides valuable insights into sales trends and demand forecasting, enabling more accurate ordering decisions. This collaboration improves fulfilment rates and also strengthens supplier relationships through shared goals and transparent data. Suppliers can leverage real-time inventory data to optimise production and respond swiftly to demand shifts, ensuring product availability when needed.
At CORE Tech they see firsthand the significant benefits VMI brings to their clients. Their focus is on facilitating seamless data exchanges and automating reordering processes. By connecting merchants with suppliers, they provide real-time visibility and accurate forecasting to maintain optimal stock levels.
CORE work closely with their clients to tailor VMI solutions that fit their needs and ensures a positive experience for all stakeholders. This allows merchants to concentrate on what matters most: driving sales and enhancing customer service.
An ERP system optimised for VMI enhances transparency, empowering merchants to track stock levels effectively and maintain efficient reordering practices, paving the way for sustainable growth in a competitive market.
As Michael Donohue, the Sales Director of Toolbank Ireland Ltd. explains “We have more than 100 separate customer locations operating under our Alliance VMI Programme. In essence VMI enables our customers to increase sales revenues whilst operating at lower costs. This is achieved by effective stock management, developing consumer driven product profiles, enabling frequent replenishment & minimising exposure to aged stock. All this without taking up staff time – giving more opportunity to tend to the consumer & therefore improving the customer experience.”
For further information, phone +353 25 41400, email core@coretechnology.ie or visit www.coretechnology.ie
