Actually, none of the above -- these little acronyms ultimately translate into MMIYP (More Money in Your Pocket) for customers who look to GTI for warehousing and inventory management solutions.
Here’s why. Have you ever considered the tough-to-pin-down actual cost of carrying your inventory? There’s facility expenses, transportation, storage, equipment (and maintenance), shipping, labor, insurances, taxes, inventory and cycle count expenses, and losses—to name a few of the costs that deplete your bottom line.
This is where GTI Industries comes in. President Steve Zuckerman said, “Since we run a sizable warehouse operation, we know these numbers, we know what affects these numbers, and we know that our customers face similar but sometimes unnecessary costs. We have proven solutions to the inventory management process to effectively reduce customer costs.”
So, how do we do it? With JIT (Just in Time deliveries) and with VMI (Vendor Managed Inventory). With JIT and VMI, customers maintain just the right amount of packaging supplies on hand to get them through the week. They avoid the expense of having to carry more supplies in inventory just to get a volume discount price. These lowered inventories can lead to significant cost savings in the end, decreasing warehouse space and resource needs.
In addition, GTI can reduce purchasing costs. Because the vendor receives data and not purchase orders, the purchasing department spends less time calculating and producing purchase orders. The need for purchase order corrections and reconciliations is removed which, guess what, further reduces purchasing costs.
A long-time GTI customer recently noted successful cost and time savings with VMI, “I just want to relay to you how well the VMI Program has been a benefit to our company. The inventory of our packaging and shipping materials has reduced. We have experienced more inventory turns and almost no out of stocks. The burden of checking inventory for placing our stock order has been transferred. We greatly appreciate the service level that you give.”
So, consider taking advantage of GTI’s JIT and VMI. Reach out to a GTI representative to schedule an onsite evaluation and together we can draw up the program that works for you.
We’ll get back to you PDQ (pretty darn quick) on how we can help you put MMIYP.