Home / Vendor Managed Inventory (VMI)

Vendor Managed Inventory (VMI)

Tracking consigned inventory in real time? FORCIOT® SKID is a vision realized!

FORCIOT® SKID gives real-time data which secures better availability, prevents overstocking and helps automating orders. Faster invoicing and better sales decisions!

Traditionally, consignment inventory management has revolved around a supplier and customer working together and sharing information. The situation is far from optimal. No visual contact, no access to customer’s ERP and no up-to-date sales numbers are common problems. Especially in case of irregularly needed materials, consigned inventory monitoring needs a lot of extra effort. But there is a new solution: FORCIOT® SKID is a unique solution to manage inventories of materials and products in an intelligent way based on the load.
 
FORCIOT® SKID provides real-time consignment stock monitoring with no effort needed from the client. Fully automated stock monitoring for all stock types – even for materials such as powders and chemicals! Place the skids under the monitored goods and get real-time data on the inventory level. FORCIOT® SKID works on its own and no ERP access is required.

 

BEFORE

A chemical manufacturer wants to maximize the sales of professional hygiene products. Availability is secured by keeping consignment stocks at the wholesalers’ warehouses. It is difficult to forecast the demand of several resellers and keep track of the status of the consignment stocks manually. Some of the resellers have very slow inventory rotation, while others inform only when running out of stock and cannot sell more to the customers.

AFTER
After taking FORCIOT® SKID system into use in all the wholesalers’ locations, the sales managers are able to access real time data on the inventory level of the consignment stocks in each location without needing to ask the customer for the information. The demand can be forecasted, Sales and Operations Planning improved, invoicing done faster and in some cases automated replenishments can be agreed upon with customers. Most importantly, the availability of products is always ensured for the end users.