The Market Place

The-Market-Place

The Market Place ties Customers to the Vendor Managed Inventory System

A typical grocery store has a checkout panel that requires a person pick up their purchases as their item is checked. During the check out process, the item is counted for inventory purposes. Depending on their location there is a check box preventing you from counting these items. This process works well but is wasteful. Counting each item is quite time consuming. They also carry back stock and this back stock requires movement of raw material. The Market Place

An efficient product flow using a quality system will have each item checked in the same flow. This will save a tremendous amount of time and material. During checkout the customer will pick to their best alternative item, which will be labeled as “back-up” when the items get picked up again later in the process. Using this method a much larger amount of items can be counted throughout the process. This will save the vendor about 45% of the basic holding time thus reducing storage space. The customer will also spend less time counting which is really precious time on the implement. If the vendor is selling over the Internet it also provides a competitive advantage in the market place.

This service can be done with the help of a Customer Relationship Management (CRM) solution. This is a software that is installed by the vendor and the customer can remotely access the system at home or in the office. There are many vendor solutions offered by various vendors. You should review all of the tools and be aware of the costs and assistance that you will receive with the system. The Market Place

Some of the vendors require a bit of work on the customer’s end to enable the use of their solution. Some of the vendors charge a fee from their customers before implementing the solution. If this is a barrier, I would not recommend it.

I was able to achieve a high rate of data flow on the back end by installing a tabbed mapping that performs this function. This is common in field service departments. Not doing this is really not an option. However, a system of having the customer login and then use the tabbed mapping can work wonders for the company.

The inventory tasks done in this manner can be tied to the inventory task management. There is not much we can do in this area we can change the orders that are coming in the mail down the hall to a back-up but this is not often sufficient. I believe all TCO of the CRM solution should be accounted for in the cost of the solution.

That is why I suggest that all customer service departments are set up with a system that eliminates the back order holding. Due to customer exchange, cancelled orders and returns not accepting, the last thing you want to do is keep hold backs and rerouting orders on back order receipts. The carts are not weighed until they are at their destination. Once the customer is prompted to input all of their information it provides a drastic reduction of time to the place of accounting. That is why it is best to utilize a CRM system that requires no back orders. Last use of this process shows significant savings. The Market Place

In my experience if everything else stayed the same you would increase productivity in your company quite substantially. You would prism the companies recounted inventory since there will not be anyoney waiting for it. You would receive more accurate production totals by use of reducing the inventory holding.