Increase efficiency and reduce costs with our Inventory Reduction Program
At Collins, we will work with you to provide solutions and tools for you to effectively manage inventory and reduce your costs. Our team’s first step is to perform a Product Usage Analysis. Through the analysis, we will track monthly, quarterly and annually your exact usage on each individual item purchased from our company. We will identify the items that are over-stocked or obsolete and set up new order points or economic order quantities on all stock items.
From the data we gather from our Product Usage Analysis we develop a quarterly review to produce an in-depth analysis of your actual purchases as they compare to your on-site inventory. This process will be performed each quarter for 18-24 months. Although this service is only provided for a limited time, it will allow you to identify trends and help with future inventory planning.
We won’t let you get stuck with inventory that you can’t use or don’t have room for. In the event that you over stock or no longer need certain stock, we will buy back, at full contract price, all generic items that are re-sellable and normal stock for our company. If you can’t use it, another client probably can.
Our experience in managing inventories always reinforces one of our guiding principles, product standardization. Standardization of valves, steam specialties, and general commodities will significantly reduce onsite inventories at your facilities. Less variety of products within a plant greatly reduces the necessary knowledge base and spare parts required for those products.