Be a lean inventory management super hero and still provide exceptional customer service.
Electrical industry inventory control best practices for lean production and inventory management have changed. It’s too expensive for Supply Chain asset managers to keep and manage large inventories of MRO electrical replacement parts that aren’t needed on a regular basis. Turn and earn ratios and formulas are being used to determine what to keep on hand and what items shouldn’t be taking up real estate and depleting the company bank accounts.
The original equipment manufacturers are staying lean too, keeping fewer slow moving items in their warehouses. Less frequently needed, slow moving items are virtually eliminated from shelves at both ends of the supply chain. This can mean long lead times for need-it-now, critical application replacement parts.
The lean inventory philosophy is also being executed by contractors, end users and just about everyone else in the electrical industry. Profitability is King. Deep and wide inventories, even critical spares, are all being evaluated on a usage basis and return on investment calculations.
No product category is “safe” from this return on investment scrutiny. The less frequently needed items in product categories such as fuses, control components, breakers, bearings, gears, valves, relays and filters are all becoming harder to find in stock. “This phenomenon is powering the Evolution of the Secondary Supply Chain” says Brian Corekin, President of Monster Electrical.
[pullquote align=”full” cite=”” link=”” color=”” class=”” size=””]”By partnering with the right independent suppliers, the Supply Chain can stay responsive, preserve and fortify customer relationships and increase profitability.”
– Brian Corekin, President, Monster Electrical -[/pullquote]
Asset Managers Lean on Specialty Suppliers
The Supply Chain is realizing the value of secondary supply chain providers and now many links in the chain are relying on specialty suppliers as a go-to source for Need-It-Now items that aren’t kept inventory. By partnering with a trusted and factory authorized independent supplier, the Supply Chain can stay responsive, preserve and fortify customer relationships and increase profitability.
Saving the Declaration of Independence
Lean inventory doesn’t take a vacation.
This scenario is at work every day. Here’s one example: When flooding shorted out the electrical system that powered the National Archives in Washington, DC Potomac Testing was called to solve the problem which required hard-to-find high voltage fuses.
After searching to find the products locally and trying to get fuses shipped from the original equipment manufacturer to no avail, electrical engineers at Potomac Testing called specialty supplier Monster Fuses, a division of Monster Electrical.
The emergency occurred shortly before a busy Independence Day weekend when large crowds were expected. By that afternoon, technicians at Monster Fuses were pulling replacement fuses from their extensive fuse inventory and making arrangement to ship them on the next plane out.
[pullquote align=”left” cite=”” link=”” color=”” class=”” size=””]“You might say we saved the Declaration of Independence.”[/pullquote]
By partnering with the right independent suppliers, the Supply Chain can stay responsive, preserve and fortify customer relationships and increase profitability.” With this in mind, ask a few questions when sourcing hard-to-find replacement parts and equipment.
1. Is the independent supplier a potential partner or competitor?
Supply Chain personnel can call a trusted factory authorized independent “specialty supplier” for fast turnaround without concern for losing the customer to a competitor.
2. Does the independent supplier provide reliable 24/7 service?
Urgent and Need-It-Now situations can happen anytime day or night. Lean Inventory doesn’t take a vacation. When crisis strikes, can you depend on the independent supplier 24 hours a day, 7 days a week, 365 days a year? Can they arrange the carriers and/or couriers and ship the product immediately to satisfy your situation?
3. Do your manufacturer suppliers support the independent supplier?
Many of the major manufacturers have embraced need-it-now suppliers for filling supply chain gaps caused by lean inventories. They recognized the value the independent specialty supplier and their role in supporting their franchise distributors and their customers.
Be an Inventory Management Super Hero
While emergencies don’t take a vacation, you can rest easier by engaging a reliable supplier who you can trust to help you preserve and fortify your customer relationships
Stay lean, save the sale and be a inventory management hero by partnering with an independent specialty supplier for locating your slow-turning, non-stock MRO items .
Monster Electrical: Trusted and Reliable Secondary Supplier
Monster Electrical is a “knowledge-based” independent distributor of fuses, fuse hardware, contactors and control equipment. We don’t just ship boxes. Our product and application knowledge goes into every transaction.
Monster Controls provides immediate shipment of 5kV Class control components. Specializing in parts for 2.3kV, 5.5kV and 7.2kV motor starters, contactors and switches, Monster Controls also stocks complete starters, contactors and switches.
Call: 888-444-4335 in the WEST or 877-444-1798 in the EAST
Monster Controls Tech Center 888-820-4335
Contributing Author Greg Carter has been working exclusively in Industrial/Electrical Digital Marketing and e-commerce for over 15 years.
Company website: electricalmarketing.net.
email: firstname.lastname@example.org. | Direct 856.381.7834.