Vendor Managed Inventory
Monitor, replenish and optimize inventory with minimal intrusion to your customers. MaxQ's Vendor Managed Inventory module provides suppliers with a competitive advantage as it fosters consistent order processing, comprehensive data analysis, and value added customer service. Vendor Managed Inventory's function allows suppliers to take ownership of main inventory replenishment decisions for their customers. This is also known as Efficient Customer Response (ECR), Just-In-Time Distribution (JITD), or Quick Response. It begins working by accepting EDI (852 - Product Data Activity) transactions which contain product usage and stock level details from the client. Next, the suggested replenishment orders are released and notification is sent to the customer via EDI (855 - Purchase Order Acknowledgement) notifying them of the upcoming shipment. Lastly, once the shipment is made, the customer is notified via EDI (856 - Advance Shipment Notification).
Additionally, this module makes accommodations for scheduled billing options that allow the combination of daily shipments to be entered on one invoice for a specified period of time.
Features and Functionality
- Controls managed and/or consigned inventory according to predetermined quantity and site levels
- Supports EDI 852 (Product Data Activity), 855 (Purchase Order Acknowledgement), and 856 (Advance Shipment Notification)
- Produces suggested inventory replenishment models per facility that can be released or modified as needed
- Recommends firm or in-process replenishments (cancel, reschedule in, reschedule out, surplus)
- Configures Electronic Shipment Notice requirements at the partner level
- User definable billing options at a partner and facility level (daily, weekly, bi-weekly, or monthly)
- Emits Actual vs. Budget tracking
- Additional control of Management Fees in addition to billable transactions
- Supports Flexible Replenishment Methods including multiple variable safety stock calculations
Downloads
