Cost and inventory reduction strategies

Vendor managed inventory: Inventory is of no value to you until it reaches your line. Why carry the liability or even pay for it when it's not in your domain? You're the customer - push the inventory liability back to your supplier. Only buy what you need, when you need it - weekly, daily, hourly.

Quotation analysis: Understand each element of cost. Gain insight to your supplier's labor, material, overhead and profit values. Are they inline with the market?

Cost walk: Invite us to review items of unfavorable impact. We're experts at reducing the cost of goods sold without compromising quality or delivery. Once we understand your current challenges, we'll know of any paths that may reduce cost.

Value stream analysis: Much like a current state map, we'll define where inventory is now and will present ways to reduce it - quickly.

Negotiation: Negotiating is delicate and often painful but doesn't have to result in either party feeling like they lost. Research on the vendor, local and global market conditions and the opportunity your business represents for a basis for the scope of your negotiations. Set reasonable goals; can the competition meet your goals? Build the strategy and know the tactics before you sit across the table from your supplier.