Custom Managed Inventory Program
Custom Managed Inventory (CMI) is our streamlined approach to inventory management and order fulfillment. CMI will allow your company to adapt to constantly changing needs and demands quickly and easily.
Instead of ordering with purchase orders, a participating company electronically sends daily or weekly demand information to Jay Packaging Group. Jay then generates replenishment orders for based on this demand information and past order history. The process is guided by mutually agreed upon objectives for inventory levels, fill rates, and transaction costs. Jay Packaging Group uses proprietary software and has had over 25 years of experience with this model.
The goal of Custom Managed Inventory is to align business objectives and streamline supply chain operations for both parties. The business value is a direct result of increased information flow:The right product. Raw material stocking programs support greater flexibility for your manufacturing process.
The right place. Consignment materials can be stored in your warehouse resulting in reduced carrying costs and time lost in transit.
The right time. The need for large amounts of inventory in safety stock is reduced. Reviewing daily or weekly demand- data and inventory levels facilitates accurate and timely order point calculations.
The right price. By constantly monitoring your inventory and demand stream, the number of unexpected orders will be minimized. Additionally, your total number of orders will reduce substantially.