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Your inventory is the backbone of your business, and not having components and finished goods at the correct place and time can put your manufacturing company at risk. Yet, many OEMs don’t manage their inventory in the most cost efficient way possible.
Fortunately, there’s an easy fix for making sure your inventory doesn’t arrive too late (or too early) to your factory floor: a vendor managed inventory (VMI) strategy. VMI reduces your storage and downtime costs by receiving parts exactly (and only) when they are needed.
Here are 9 reasons your OEM needs a VMI system: