Integrated Supply Management for MRO Items
Sourcing: Experts armed with deep category knowledge and market insight, equipped with an arsenal of strategies, information, and tools help our customers maximize savings opportunities.
Purchasing: We have invested millions of dollars in developing a state-of-the-art ERP system that optimizes purchasing processes to obtain the lowest price possible from our supply base. The system automatically manages price breaks, freight minimums, seasonality of demand, blanket purchase orders, lead times, and demand. Our experienced buyers review this information to make purchasing decisions aimed at delivering maximum value.
Inventory Management: Our system and processes are structured to reduce inventory throughout the entire system. We use sophisticated, demand-forecasting models to predict demand within the lead time of the items. The system predicts the future lead time of products based on multiple variables. The anticipated demand, lead times, inventory on-hand, and inventory already on order are fed into an algorithm that brings in enough stock to fulfill demand in the lead time of the product, plus safety stock.
Warehouse/Crib Management: We currently manage warehouses and cribs for a number of our customers. We implement a sophisticated barcode-based system that keeps track of all disbursements and receipts on a real-time basis to accurately manage client inventories. We provide staffing, systems, processes, and procedures for full warehouse management. The systems are set up to manage departmental spending against budgets and provide high fill rates and customer satisfaction while keeping minimal inventories.
Supplier Management and Accounts Payable: We provide a single invoice to our customers and take on the responsibility of managing all invoices for our customers’ indirect supply base. This reduces overhead and lowers operating costs. PSMI also offers extensive supplier management services that provide ranking and rating for the customers’ supply base. We also facilitate strategic supplier/manufacturer relationships in key areas such as tooling, personal protection, fluid power, and other indirect commodities.