Managed Inventory Solutions

Providing the reliable partner for your industry

We design and implement bespoke solutions to meet and support your stock management needs, from simple monthly stock checks to complete IT managed systems serviced on a daily basis. Every customer requirement is slightly different so we work in partnership with you to develop and “tailor” the right system to meet your specific needs.

Each managed solution is allocated a key account manager plus support staff; a racking system (if relevant); a bespoke stock profile; agreed re-order levels that provide a depth of stock that is robust but not in excess of your needs and a focused re-ordering schedule. All in all, a dedicated solution tailored for you.

Contact us Overview document
Inventory Solutions

Service Benefits:

  • Culture of partnership integral to service, developed around a customer centric approach
  • Broad experience in the managed stock inventory arena
  • Scaled inventory methodology
  • Daily delivery options
  • Potential decreased inventory and stock costs
  • Release of non-productive stock management time to production
  • Condensed administration and acquisition costs
  • Reduction or elimination of stock outs
  • Provision of relevant storage equipment racking, bins and kanban systems (subject to relevant criteria)
  • On-site product demonstrations by partner manufacturers
  • Regular scheduled reviews of activity and stock levels

Infrastructure

Effective communication, robust systems and an open, honest and transparent approach are key to providing our partner customers with real world benefits. To help achieve this, we integrate a number of different team members into the relationship.

This approach, delivers the benefit that there is always someone available, on site if required, who understands the solution that has been implemented, has genuine buy-in and involvement in the relationship and is motivated to help provide solutions. This prevents any issues of air-gap when your usual rep is unavailable and no-one else understands the needs of your business. To clarify this, please refer to a typical Inventory Solutions team line up.

Racking and Kanban Design and/or Vending Implementation

Wherever new hardware is being provided, particularly in connection with kanban or vended solutions, it is essential that clarity is achieved in terms of what is being provided; where it is to be installed; what site preparation (potentially including relevant M&E services) is required on the part of the site owner; and lead times factored in for the design and procurement of the equipment to be provided.

The number of racks, locations and bins for each system and the supply of any vending equipment will be confirmed once an agreement has been arrived at, spend criteria approved and governing contract signed off.

Customer Partner Transition

Taylors has worked with a wide range of business types and organisations across various industry sectors. This experience is embodied in a proven take-on process that is designed to deliver maximum value in the shortest period. The premium partner will already have been assigned an Inventory Solutions team who will manage and guide the process.

The key elements are full transparency in terms of lead times for transition (particularly in connection with special and/or imported product), the adoption of a can-do attitude with respect to achieving an effective transition and a common goal in reaching the milestones that will be the measure of success for any new implementation. Often this will prove the clearest demonstration of how Taylors genuinely care about your business.

Operation

From the agreed upon start date our Account Manager or Envoy will be available to visit the site twice weekly and will continue to be so for the first 3 months. After this initial getting under the skin of the business period, it would be anticipated that the account can then be effectively serviced on a weekly basis.

The purpose of this visit is to liaise with any relevant customer stakeholders (as determined by the customer) to ensure that service levels are reaching or exceeding agreed expectation, to ensure that the managed stock solution including kanban or vended process are performing appropriately and to monitor stock levels in order to help prevent stock-outs and help identify any other stock level challenges. If required this frequency can change within or after this period depending on the ease of transition and customer need.

Quality

All customer partner parts will be checked by sample upon arriving at our facilities, referring to the quality, finish, dimensions, expiry date and quantity. For special parts, made to order or those not conforming to an industry standard, an initial sample inspection will be undertaken.

Performance

Taylors to achieve an OTIF (on-time-in-full) target of 95%.

Pricing

Taylors will commit to holding the quoted prices for as long as reasonably practicable from the beginning of the agreed start date. Prices will only increase where genuine operational duress exists or where the incoming costs of the materials have increased beyond commercial tolerance.

Partner customers will be notified of any parts affected by increase prior to delivery, including an explanation of the proposed increase.

Accounts/Invoicing

Taylors already provides customer with a managed credit facility. Purchase Order structure and delineation will be managed in line with customer requirements.

Conclusion

Taylors has a proven track record of providing customer partners with individually tailored managed inventory solutions. Without exception, every solution we have implemented has delivered commercial robustness and has improved stock availability and reduced stock outs. To date, no customer that has had a system implemented has either stepped away from the managed services that Taylors has provided or has opted to move to an alternative provider. This is a record that we at Taylors are proud of and genuinely only seek to develop.

If you would like to further discuss this concept and investigate how it might bring your business similar benefits to those already enjoyed by our other premium customers, please do not hesitate to contact your Account Manager who will be very happy to meet with you at your convenience