Delivering Contract Manufacturing Solutions: Maximizing Process Efficiency Through Inventory Management
As a supplier of contract manufacturing services and products for a variety of industries, we keep the needs of the customer in the forefront of our mind at all times. Therefore, quality and process efficiency are at the center of everything we do. Unfortunately, manufacturers sometimes underestimate the role that managing inventory plays in overall process efficiency, and they often find this out too late. Fortunately for our customers, Axenics is well aware of the importance of having an effective inventory management process for projects of all sizes and complexities.
Inventory Management Systems and Processes
By applying the “Just-In-Time” inventory strategy, in addition to utilizing the Kanban technique, and offering consignment systems to our customers, we are able to provide inventory processes aimed at increasing overall efficiency. By receiving goods only as they are needed in the production process, we can effectively decrease waste and reduce inventory costs for our customers. In addition, our lean inventory process allows us to more easily control workflow, streamline processes, complete projects on demand, and most importantly – to find the best solutions for our customers.
Addressing Space Limitations
While all customers only need their product to be ready exactly when they need it, it can be difficult to know how much inventory is actually needed at any point in time. Ordering more inventory than is needed often results in waste, and in some cases, may cause problems for customers with limited storage capacities. Customers that deal with space constraints are limited in the amount of inventory they can have on hand at any given time, and therefore efficiently managing inventory becomes crucial to process efficiency.
Axenics understands this common dilemma, and is continually working to increase its process efficiency through its inventory management system. Beginning with the customer order, our Just-In-Time system allows us to source materials, plan assembly, and allocate inventory based on the order load from the top down. As a result, we are able to reduce unnecessary inventory and produce based on customer need.
Lean Operations and Consignment Options
Many of our customers run lean operations, making efficiency one of their top priorities at all times. At Axenics, our inventory system maximizes efficiency by employing the Kanban system, which ensures that at each point in our system, only what is needed is ordered, assembled or completed.
Not only does this reduce waste and streamline our processes, it also allows us to work in partnership with our customers by increasing our responsiveness to a customer’s needs. Thus, engineering and value analysis are not limited to sporadic sales calls, but will take place on an ongoing basis as we work to fulfill each customer’s specific needs and situation.
In addition, Axenics will provide a consignment option for customers who have a proven and stable product, but don’t want to handle inventory. This allows us to provide quality products to customers with an added flexibility.
A Commitment to Quality
Along with customer satisfaction, Axenics maintains a high standard for quality. Our inventory system allows us to offer a streamlined, efficient business that responds to customer needs. It also allows us to guarantee quality. At each point in the process, product that does not meet all quality control stipulations cannot proceed through the manufacturing
We’re all seeking ways to become more profitable in the new decade. A contract assembly services partner takes a lot of the concerns and heavy lifting off your team’s shoulders and places it into highly-capable hands. There are lots of companies out there, so we...
Some people think that assembly and manufacturing are the same thing. It's a common misconception. At Axenics, we perform both assembly and manufacturing, but there is a clear difference between the disciplines. What is assembly? Assembly encompasses the steps of...
The worldwide medical device industry will hit $420 billion in 2020, according to new research. Expanding your existing infrastructure to keep up with this industrial evolution is a costly endeavor. Are there already chinks in your manufacturing supply chain due to...