By collaborating, we create a win-win-win. The customer has what he needs when he needs it without having to go out of his way and deviate from his typical process. The supplier has information in advance about an upcoming event and so can modify plans as appropriate to better serve his customer at the lowest inventory levels and maximum efficiency levels.
Vendor Managed Inventory (VMI) offers companies a chance to partner with customers to better manage inventory and costs. Once the partnership proves fruitful, expanded business opportunities occur.
Customer collaboration has become cornerstone to success in today’s supply chain driven world.
When connecting people and process, think about using customer collaborative programs to link strategy with execution.
Customer collaboration is always a good idea; however, leveraging customer collaboration during challenging economic times can be one of the keys to success.
