How do I know if I need a VMI program?

More than just a distributor of wire, connectors, and everything in your harness—WireMasters has developed relationships and technology platforms to become your global consultant and supply chain management partner.

Common signs that you should consider a VMI program include:

• Experiencing long lead times and stock-out situations
• Capital being tied up in inventory cost
• Unnecessary frustration from dealing with too many suppliers
• Lack of visibility into your supply chain or forecasting

With years of highly successful VMI programs in place at many of the largest names in the aerospace, defense, and transportation industries, WireMasters knows what it takes to implement a vendor-managed inventory program to fit your needs—large or small.

Whether you are looking for a quick solution to implement immediately or a robust long-term partnership, WireMasters has you covered. Over the years, we have gone to great lengths to develop a highly flexible and easy-to-modify solution based on each customer’s unique requirements. This has evolved into one of the most robust and transparent vendor-managed inventory options available, where its users benefit from improved forecasting, real-time transparency, customized KPI reports, and an enhanced analytics platform.

What are the benefits of a VMI program from WireMasters?

WireMasters is here to make your job easier by focusing on your needs from the very start of your WireMastersFAST VMI implementation process.

While nearly every WireMasters VMI program is unique, several common benefits include:

• No more stock-out situations
• Improved cash flow
• Stable pricing & plannability
• Reduced number of suppliers to manage
• Enhanced data and analytics for improved forecasting
• Reduced number of transactions in the buying cycle
• Consolidated billing & receiving
• Reduced inventory costs
• Supply chain protection from volatile markets
• ...and MORE!

Operationally, a vendor-managed inventory program can add tremendous value to your organization.

Some of the direct impacts our customers have seen from a WireMasters VMI program include:

Quality & outcomes:

• Reduced stock-out situations
• Scalability – no SKU limitations
• Complete inventory transparency
• Customized reporting
• Forecast from actual usage and/or import forecasts
• Visibility into incoming product and inventory on hand
• Real-time data

Workforce:

• Efficient supply chain management
• Less buying cycle transactions
• Increased staff productivity
• Streamlined workflow and purchasing processes

Operational Efficiency:

• Automated inventory replenishment
• Consolidated receiving & billing
• Walk-out consumption
• Custom stocking solutions
• More efficient supply chain management processes
• Operational timeliness and met program objectives

Finance:

• Improved cash flow
• Extended payment terms
• Reduced inventory cost
• Decreased carry cost
• Decreased transit expense
• Utilize capital elsewhere
• Reduced administrative cost

How does vendor-managed inventory work?

Planning your Project

Your path to a modern, optimized supply chain starts with establishing a list of items critical to your business. We define your list of contracted items and identify minimum and maximum quantity thresholds for each.

This ensures that you and your dedicated WireMasters team can monitor, adjust, and replenish your inventory within the designated range and in real-time based on actual consumption. This is completed through your custom portal and analytics software with optional EDI capabilities.

What could be better than ensuring the products you need are on your shelves, when you need them? You don’t pay for product until you use it—increasing your financial leverage and improving your company’s cash flow! The pricing structure established under this program will be held throughout the length of your agreement, so you know what the price is today, tomorrow, and well into the future!

Once an agreement has been executed, the VMI Implementation Specialist and your WireMasters team will work with you as a liaison to facilitate the process.

Implementing your Project

Implementation starts by collecting any pertinent data in preparation for your on-site installation and program launch. This includes—but is not limited to— ordering material, equipment, making site preparations as well as gathering data needed to create your custom VMI portal.

To make the process even easier, WireMasters provides assistance and training to your team during the on-site implementation. This helps to ensure your staff are comfortable receiving material for the program as well as utilization and consumption processes.

Based on your agreement terms, either your on-site team or, potentially, a WireMasters on-site employee, will receive your materials and store them in the designated WireMasters VMI site at your location.

What happens to material you already have on hand? While on-site, we create labels with unique identifiers that track the product as existing, customer-owned material to ensure those items are depleted first.

Once on-site implementation is complete, your WireMasters team will focus on monitoring your inventory through your robust VMI portal. The best part is, this enhanced data and analytics are accessible to you 24/7 and provide 100% transparency into real-time inventory and consumption as well as improved forecasting information.

VMI Data & Analytics

WireMasters’ industry-leading VMI Data & Analytics portal provides 100% program transparency through customizable reporting dashboards. Monitor and sustain your inventory pipeline – or let us do the work – to ensure accurate material forecasting.  

With total access to real-time data tied to every transaction within your program the ability to request WireMasters material as needed, rest assured that your business, production lines, and processes run smoothly and consistently.  

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WireMastersFAST 
Wireless

WireMastersFAST  is a simple, yet robust wireless grab and go technology platform that reduces the risk of human error that often occurs during manual data entry and scanning. 

Wireless checkout technology is a key component to having a modern, automated inventory replenishment program. WireMasters provides complete transparency throughout all levels of your organization by offering critical insights and real-time updates on an unlimited number of products as they move through the supply chain.  

Whether you’re looking to improve the efficiency of one location or hundreds, it all starts with a simple site evaluation to best determine ideal material flow and equipment locations. 

From there, we work with you to establish the most efficient plan for an onsite implementation.  
When it’s time for the install, our team will set up and test the system--as well as provide any necessary training. 

Contact WireMasters