Stay Lean & Resilient With Managed Inventory
For decades now businesses across all industries have realized value from adopting lean practices. One effective way to make a business lean is to incorporate vendor-managed inventory, especially with packaging. For most companies, packaging inventory is an untapped opportunity for considerable cost and resource savings.
With vendor-managed inventory (VMI), a supplier works with a customer to ensure that inventory levels are exactly what is needed — no more, no less. Adding VMI to your business's packaging results in:
- Less cash tied up on unnecessary inventory
- No running out of packaging
- Less supply chain risk
- Fewer clerical errors
- Valuable business insights that go beyond your packaging stockpile
The COVID-19 pandemic and its related supply chain issues made some wonder if lean practices, such as minimizing inventory, might make them vulnerable to risk. But, by analyzing sales cycles and up-to-date supply chain information, the VMI process helps businesses not only achieve lean but also be more resilient.
Viking offers two types of inventory management — internal warehousing and inventory services.
We manufacture and hold corrugated for up to 90 days, so customers can avoid on-site storage overhead, while still benefiting from volume discounts.
With our inventory services, a member of the Viking team goes to your site and works directly with you to optimize your packaging inventory. We analyze your inventory needs through a process where we get to know your business, products, and customers so you’ll always have the optimal levels of packaging.
Viking's inventory management services are especially valuable for businesses like farms and food manufacturers that are affected by the seasons or fluctuating demand like Hepworth Farms. In addition to providing the farm with environmentally-friendly branded packaging solutions, Viking helps them manage their inventory too, so they have no packaging disruptions during the busy springtime rush.
TAKE PACKAGING SUPPLY CHAIN WORRIES OFF YOUR MIND
Since the Viking family of companies includes our corrugated raw materials supplier, our supply chain protection goes beyond just the first tier. This vertical integration has helped us avoid supply interruptions even during these uncertain times where many businesses and suppliers have faced material shortages.
Managed Inventory helps companies achieve lean manufacturing goals by reducing on-hand inventory to only what is needed at any given moment. It’s one of the many ways way the Viking family of companies helps companies solve problems – even those they may not be aware that they had.
Contact us to learn more about how a relationship with Viking can help you cut costs, increase efficiencies, and be prepared for anything.