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About Supplier Managed Inventory (SMI)
We work with closely customers and can take responsibility for the entire supply chain process if required. Known as SMI, this affords excellent cost and service benefits to our customers
Supplier (or Vendor) Managed Inventory is a term used to describe a supply chain arrangement where the supplier, not the customer, essentially takes responsibility for ensuring a production process has the most efficient levels of input raw material.
Substantial overall cost savings are possible, and for major manufacturing companies Smiths recommends such an arrangement is evaluated. Information Technology plays a significant part in the set-up and running of an SMI contract and Smiths uses some of the most technologically advanced supply chain software to accomplish this.
|INFORMATION & REPORTS|
|DEMAND FORECASTING||STOCK REPLENISHMENT|
|COSTS & FINANCE||PRODUCER MANAGEMENT||MATERIAL CHOICE|
|CUTTING & PROCESSING||PACKAGING & DELIVERY||IT HARDWARE & SOFTWARE||PHYSICAL STOCK LOCATION|
- Reduce total cost of raw material supply by consolidating the supply chain and making it more responsive
- Improve supply service to customer's manufacturing centres
- Reduce waste and increase efficiency by supplying cut-to-size raw material to customer' manufacturing centres on JIT basis
- Provide a highly-customisable SMI system based on interchangeable building block concept
- Provide total transparency to customer in all elements (including open book costing)
- Allow customer to retain option of complete control over whole process
- Supplier Managed Inventory (SMI) systems enable a highly efficient raw material supply chain to be created
- Essentially, an SMI system can move the responsibility for all aspects of inventory management to an expert outside function
- Expertise in all aspects of purchasing, stocking, processing and delivery creates cost savings through efficiency gains
- Smiths Advanced Metals' Supplier Managed Inventory (SMI) system is a totally bespoke software platform created exclusively for use by our customers
- It is the culmination of 5 years systems and software development
For more information about Smiths Advanced Metals and to receive a competitive quotation for your business, please CLICK HERE to contact us.