RedLore Wins New Customer in Vendor Managed Inventory

How we’re eliminating a pain point for a global juggernaut in electronic equipment manufacturing.

As the leader in touchless process automation, the RedLore team gets to work with some impressive players in manufacturing and distribution. We’re excited to announce RedLore recently inked a deal to automate the Vendor Managed Inventory (VMI) operations of a large manufacturer of equipment for electronic manufacturing.

This global leader with over 200 years of industrial history is increasingly deploying a Vendor Managed Inventory strategy. With VMI our customer is responsible for optimizing the inventory held by their customers. The challenge is that a VMI brings along a major pain point: customers of their products must report consumption, and that opens the door wide to human error. It’s impossible to get an accurate sense of their customer’s stock levels at any given time.

Our customer needs to keep track of the consumption of spare parts and consumables and replenish the stock without their customer having to place replenishment orders. Workers in the supply chain work hard and mean well, but people are people and all too often human error results in a failure to report consumption; that means our customer’s customer runs out of product. Delays in replenishment of spare parts or consumables result in production line shutdowns until more product is delivered. And for this global player and their customers, that is not an option.

RedLore’s solution keeps track of the quantity and type of every spare part and consumable. It also pinpoints the location on every site down to the bin level. Using RedLore’s VMI solution, our customer can keep real-time stock of the parts at each of their customer’s sites. This full visibility gives our customer the ability to replenish their products on time and in full and ensures that production line shutdowns are a thing of the past.

RedLore’s VMI solution is one use case out of a comprehensive touchless supply chain offering. If you want to explore how RedLore’s solutions can improve and secure your supply chain, contact a rep today.

ABOUT REDLORE

RedLore creates supply chain visibility through disruptive internet of things (IoT) solutions. Their solutions are aimed at mitigating Supply Chain losses. They offer an end-to-end solution, comprising of touchless IoT sensor devices, a cloud analytics platform, and a customer-facing dashboard platform. Their proprietary IoT and AI algorithms detect situations and problems beyond the capabilities of traditional Track & Trace and Sensor Monitoring solutions.