Managing inventory and stock can be a time-consuming task for laboratories. When you partner with experts like Lennox to create Vendor Managed Inventory (VMI) systems, your business will enjoy many benefits. As technology advances, laboratories may be hesitant to adopt new systems, especially if they are comfortable with their existing solutions. However, by considering the longer-term and collaborating with expert suppliers, laboratories can focus on their core activities and deliver top-class services for their customers. Keep reading to learn about how VMI systems can benefit your laboratory.

Why Implement a Vendor Managed Inventory (VMI)?

Using a VMI system allows for the continuous operation of the laboratory, allowing your staff to focus on core business activities and removing the need for manual tasks such as PO generation, order follow-up, receipting of goods, checking stock level maintenance and reviewing invoices. Implementing a VMI system means that there is always product availability, ensuring operational continuity for your business. The system also ensures the correct stock levels for your laboratory, helping you to manage the effective rotation of use-by stock. 

Lennox implements VMI to ensure accessibility, intuition, and reliability for our customers. Our VMI process starts with creating a comprehensive outline and project plan for our clients, followed by training and onboarding our clients, and then finally by implementing a support and access portal. In conjunction with our customers, we have custom-designed a software package specifically for the operation of our VMI service. This software has many unique capabilities including:

  • Stock tracking by location within your facility
  • Expiry date management
  • Booking out-of-consumed or out-of-date stock.

The Lennox Vendor Managed Inventory and its Benefits

At Lennox, we’re customer-centric in everything that we do. We pride ourselves on bringing the personal touch, ensuring we are always available for customer queries and support. Our Vendor Managed Inventory systems are extremely popular and have been rolled out across several of our 6,700+ customers. This innovative and agile system provides our customers with real-time information on everything from stock quantities to locations.

The main benefits of our VMI system include:

  • Real-time visibility on stock by location
  • Detailed reports which can be customised to your requirements
  • Immediate access to product COA’s
  • Full visibility on expiry dates and Lot numbers
  • Access to MSDS (Material Safety Data Sheets) online in case of emergency

Contact Our Team Today to Enjoy the Benefits of a Customised Vendor Management Inventory System

Whether you are looking to streamline processes, reduce costs or improve order accuracy, Vendor Managed Inventory allows your business to effectively plan and forecast orders with the help of your supply partner. We know that our customers need an end-to-end service which maximises efficiency and streamlines business operations. 

As your supply partner, our diverse team of scientists, engineers and project managers will leverage our collective knowledge and agility to deliver efficiency, innovative solutions and assured outcomes.

To find out more information about our tailored Vendor Managed Inventory solutions, contact john.oflynn@lennox.ie or visit www.lennox.ie.