PECM Issue 42 2020 | Page 22

EDITOR’S CHOICE FAST MOVING CONSUMABLES BRAMMER BUCK & HICKMAN EXPECT THE BEST WITH A VENDOR MANAGED SERVICE By Ian Hall, Vendor Managed Services Director – UK, Brammer Buck & Hickman The process of buying, restocking and managing fast-moving consumables can take up valuable time and money for any industrial or manufacturing business. Purchasing from multiple suppliers is time- consuming, creates many invoices to process, increases delivery costs and can lead to cash being tied up in inventory with the risk of making stock obsolete if demand isn’t closely aligned to supply. However, with a vendor managed service solution, these issues can be resolved. WHAT IS INDUSTRIAL VENDING? The main purpose of industrial vending machines is to dispense consumable items that are used most frequently by employees at the point where they are needed. This might include personal protective equipment, 22 PECM Issue 42 cutting tools, abrasives, hand tools, cleaning items, lubricants and greases – and much more. You decide which staff have access to which machines and you can even restrict access to certain items. Access to the items are gained by a touch screen or barcode scanner followed by the entry of a PIN number unique to that person. A vendor managed service is a time and cost saving solution designed to give greater control over budgets for consumable items, whilst taking care of your supplies so your team has more time to focus on areas that add real value to your organisation. The service works by using stock management expertise. A quick analysis of your processes can streamline your supplier base to consolidate your invoicing as well as analysing stock holding, and design optimum ordering processes ultimately creating improved efficiencies. Furthermore, you can track data from the inventory management system and gain valuable intelligence about the supplies being used and by whom. If you’re thinking about introducing a vendor managed service solution into your business, you’re bound to be looking for a product/ service that comes with both great service and great value. With a lot of options out there, navigating the way could seem difficult. WHAT SHOULD YOU EXPECT FROM THE VENDOR MANAGED SERVICE PROCESS? The process should start with a full analysis of your parts usages and stock holding data by a specialist supply chain expert who will identify optimum inventory for your specific needs. An expert should assess critical parts, consignment stock, obsolete stock and stock not fit for purpose. They should then continue to analyse your stock control and identify all issues and examine your labelling and location processes.