Vendor-Managed Inventory Program (VMI Tool Crib)
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What is a Vendor-Managed Inventory program (VMI Tool Crib)?
Vendor-Managed Inventory or also known as VMI is a program designed to provide consistent stock for your company. This means no more running out of stock, no need to place daily orders from multiple suppliers, no more waiting on products to arrive and no more freight charges that’s right free local delivery by Q Source. Prices are valid and remain constant for the year (reviewed and set yearly).
Benefits of the VMI Tool Crib Program?
- Consistent Inventory to avoid down time
- Pre-negotiated pricing yearly
- Free delivery for local customers
- Q Source completely manages the items in this program leaving you to focus on more important tasks
- No more waiting on items to arrive
- Fewer invoices to pay with consolidated invoices
- Fast and easy process
- Less waste, shrinkage and non-compliant consumption
- Reduce inventory to only stock what you need
- Increase productivity
How to start?
In order to help with the setting up of the Tool Crib, we request the following info for the items / products to be managed by Q Source. The file for this VMI Tool Crib Program will need to be filled out and must include:
- Your item ID
- Q Source Item ID (if available)
- Supplier/Manufacture’s Name
- Description of item
- Unit of measure you wish to keep replenished
- Weekly min/max levels if known (if not known default of 3/5 will be used until usage is known)
Once we have a list of all the items that will be managed, we will create the quote and inquire from you on items that are eligible for substitution. Samples could be issued for approval prior to ordering if needed.
Once Terms are set, quote is approved, and contract has been signed then we can start ordering items. You the customer will need to advise if you would prefer to purchase your own cabinet(s) and bins or if we at Q Source will supply them for the program.
Please note: That if you choose for Q Source to supply the cabinet then Q Source will take back possession of the cabinet(s) and bins that we supplied upon cancellation of program.
FAQs:
What if I want to add/remove items to this program?
New items may be added at any time. We ask that that you assign one person at your facility to be the decision maker regarding adding and or removing items from the program. Please allow time for new product to be stocked at Q Source. Once in stock, then they will be added to the cabinet and maintained accordingly.
Removal of items may be done at any time as well. Please note that the customer is responsible for quantities up to the max levels that are stocked at Q Source for the program. We could phase out an item until depleted prior to adding replacements if needed.
Do I have to separate Q Source items and our other vendor items?
To prevent any confusion between customer and Q Source on what items will be managed, we ask that only products for the program to be stored in the cabinets. Any other items that are not part of the program are to be stored in another general area or cabinet.
How often will Q Source check my inventory levels?
Q Source will perform weekly inventory checks at the facility and replenish as needed. Depending on actual usage and frequent monitoring, visits may go down to bi-weekly. Notification will be made to you in advance.
Where is this service available? Can I get it outside Q Source's immediate area?
Yes with the help of our Q Source App (available on IOS and Android) this service is available outside our immediate area here on Long Island, However if you are located out side of Long Island we will require some additional information and we encourage you to contact us or start a chat for more information on setting up this program.
For more information or a PDF version of the of the above content please contact us or download the PDF here.