SUMMIT UTILIZES VMI TO DRIVE DOWN COSTS AND INCREASE EFFICIENCY
As with electronic data interchange (EDI), Summit was an early adopter of vendor managed inventory (VMI). Through VMI, Summit and our manufacturers have been utilizing the latest technologies to help ensure that the right products, in the right quantities, are on Summit's shelves at all times.
Vendor managed inventory involves Summit electronically communicating product activity information with our key vendor partners on a daily basis. Based on this information, future product shipments are forecasted through the use of sophisticated forecasting technology. VMI automates the purchasing process, reduces manual labor, drives down costs and helps us ensure that the products you need will be on our shelves when you need them.
Summit is currently participating in VMI with many of our key vendors including Square D and Panduit and more. Summit also has vendor managed inventory programs with a number of key Customers as well.
Summit believes that technologies such as VMI, EDI and other forms of electronic commerce will not only increase our own productivity and efficiency but also that of our Customers and Vendor Partners. Those partnerships which are based on these types of technologies will result in low cost structures and higher results for all those involved.
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