Thursday, October 22, 2020

Flex Space Warehousing



Friday, August 28, 2020

Cost Reductions to Improve Profits

During these uncertain times, many companies are facing daily struggles with cutting costs to offset declining revenues. Now there is an even greater need to identify unprofitable inventory and reduce or even eliminate its carrying costs.

Our GPS Inventory Bank programs will provide these cost reductions while still retaining line item availability for your future customer support requirements.
 

ARE SLOW MOVING PARTS EATING UP YOUR PROFITS?

Our GPS Inventory Bank programs store, manage and distribute excess and slower moving parts

Retain Ownership or Write-off the Inventory Provides Long Term Customer Support Create/Reduce needed warehouse space Reduce Costs - Increase Profits!

FLEX SPACE WAREHOUSING

Long or Short Term

Pallet Space or Floor Space Available Pick - Pack - Ship Services

We also provide Order Fufillment Services and other specialty services


FOR MORE INFORMATION SIMPLY CALL (800) 896-0477


Wednesday, June 27, 2018

The Problem: The High Cost of Slow Moving Inventory



No matter what your inventory carrying cost, the bottom 60% of your inventory should be your highest operating priority. Any money or space that you use on this inventory is a negative pull on your overall asset base and operating efficiencies.

On the other hand, the bottom 60% of your inventory, no matter how slow moving it is, is very important to your long range customer service levels.


Getting the most benefit from your slow moving inventory means you have to reduce or eliminate the future cost of having it available.  Accomplishing this requires a change to the environment it resides in WITHOUT interrupting your customer service, sales or profits. 


When you take an annual write off, it is usually a small percentage of your actual slow moving inventory and afterwards there is still a lot of it left on your shelves. While these small write-offs do help, more action is needed to improve the actual day to day operations and the managing of your inventory carrying costs.


Solution: A Well Planned Exit Strategy

A well planned GPS 2-Stage Exit Strategy for the entire list of your slow moving inventory is the only cost effective solution and best practice asset management tool available.
Here is how it works:

Stage 1 - Deposit your slow moving inventory into a GPS Inventory Bank distribution center that is designed specifically to manage long term, slow moving inventory.  GPS will pay the freight to relocate the inventory to their nearest slow moving inventory distribution center. Your only cost is a minimal flat rate fee which provides free unlimited in and out transactions.

Using the Stage 1 program greatly reduces your inventory carrying costs and immediately frees up space in your facilities.

Stage 2 - When you are ready to write off any of the slow moving inventory, GPS will accommodate this requirement by taking ownership of that portion of the slow moving inventory thru its Inventory Bank programs. It’s as easy as a quick email or phone call to move inventory to the next stage.  Plus, now you have completely eliminated all carrying costs on this inventory!

Using the GPS 2-Stage Exit Strategy provides:
  1. Greatly reduced or eliminated inventory carrying costs
  2. Free up space in your facilities
  3. No need to seek out space and set up operations to house slow moving inventory
  4. No more committee meetings trying to guess what to keep and what to purge
  5. No interruption to long term customer service
  6. No resourcing items at a one off inflated price that you purged last year
  7. Maintain your prices without inflation
  8. Maintain gross profits without reductions
  9. Reduce or eliminate production interruption for items needed in the field
  10. Protect your inventory from the surplus market
  11. Easy implementation within your systems. The transition is as quick as you can pick and pack the inventory for transportation. GPS handles all the transportation arrangements



The GPS 2-Stage Exit Strategy is your solution to the management of your entire slow moving inventory.  Contact GPS Inventory Solutions now to learn how to cost effectively eliminate the drain on your operating budgets and to improve your overall efficiencies. 

Call (800) 896-0477  

Tuesday, August 29, 2017

SLOW MOVING SPARE PARTS MANAGEMENT CREATES SAVINGS AND IMPROVED EFFICIENCIES



Our GPS Inventory Bank Programs take the guesswork and costs out of physically managing excess and slow moving production spare parts.
We are experts in physically managing Slow Moving and Excess Production Spare Parts that have costly unpredictable sporadic usage.
Depositing your production spare parts into our Spares Inventory Bank:
  • Ensures that you maintain high levels of production output
  • Reduces downtime
  • Decreases your inventory investment
  • Reduces or eliminates carrying costs
  • Frees up working capital
  • Increases your operating profits
  • Creates more available warehouse space
Using our long term Spares Inventory Bank programs will provide continued significant cost reductions and improved performance year after year.
Our Spares Inventory Bank accepts slow moving and excess:
  • Semi-finished parts
  • Finished parts
  • Direct inventory
  • Indirect inventory
  • Front-End spares
  • Back-End spares
Let us show you the many benefits of using our cost effective long term planned program.
Contact a GPS Inventory Bank representative today (800) 896-0477


Thursday, June 1, 2017

HAI HELI-EXPO Slow Moving Helicopter Parts Solutions

GPS Inventory Solutions exhibited at the 2017 HAI HELI-EXPO in March of this year. The Expo was located in Dallas, TX at the Kay Bailey Hutchison Convention Center with record crowds. GPS was there to promote its GPS Inventory Bank program for excess and slow moving parts. Many attendees stopped by the GPS booth to learn more about how they could reduce or eliminate their inventory carrying costs and increase corporate profits. For more information about GPS Inventory Bank programs, visit us at www.gpsinventorysolutions.com or call (800) 896-0477.

Wednesday, September 28, 2016

Manufacturer Selects GPS Proven Cost Effective Exit Strategy for Slow Moving Inventory



GPS CUSTOMER CASE STUDY:

Manufacturer Selects GPS Proven Cost Effective Exit Strategy for Slow Moving Inventory

Based upon an analysis of their inventory, a manufacturer of construction machinery identified a large amount of slow moving parts that had sporadic, unpredictable usage. Through their analysis they discovered that the inventory carrying costs for this portion of their inventory far outweighed any future profits. Plus, these slow moving parts were negatively affecting their overall inventory turns and occupied a large number of warehouse locations.

However, the manufacturer also understood the need to provide long term customer service and consequently the need to continue to have immediate access to these parts. Their brand integrity and their image in the market place must be maintained for their dealer organization and future product sales.

GPS Inventory Solutions presented its Inventory Bank programs that offered cost effective solutions that either reduced or eliminated their overhead and inventory costs while still providing a high level product support.

The manufacturer selected the Shared Profits Inventory Bank program as they were confident that it would provide the cost savings that they needed, along with the immediate availability of these slow moving parts to their dealer network. Freeing up warehouse space was a major bonus.


How the GPS Shared Profits Inventory Bank works for slower moving inventory:

  • GPS obtains ownership of inventory -  OEM write off required
  • GPS relocates, warehouses, manages, and distributes the inventory
  • No storage or transaction fees apply
  • OEM refers Dealers to GPS Inventory Bank for product needs
  • Dealers have easy 24/7 online access to GPS database for checking item availability
  • Excellent customer service
  • Same day shipments available – All orders shipped within 24 hours
  • GPS pays OEM rewards for allowing visibility in its system and dealer referrals


Here are the benefits gained by using the GPS Shared Profits Inventory Bank Program:

  • Immediate line item availability to satisfy customer demand
  • Dealers have online 24/7 visibility of available parts
  • Brand and market integrity protected
  • Long term product support
  • Freed up valuable warehouse locations
  • Increased working capital
  • Increased inventory turns
  • Improved workforce efficiency
  • Improved cash flows
  • Increased profits and shareholder returns


GPS Inventory Solutions has provided this customer with a proven cost effective exit strategy for their entire excess and slow moving inventory. They now use the SHARED PROFITS PROGRAM along with our 3.5 Inventory Bank program, which manages slow moving inventory not ready to be written off.

For more information or to schedule a presentation to learn more about how our proven Profit Driven Inventory programs can work for your company, please contact us at (800) 896-0477 or email programs@gpsinventorysolutions.com.

GPS Inventory Solutions, Inc.

Email: programs@gpsinventorysolutions.com 
Website:  www.gpsinventorysolutions.com 
Toll-Free: (800) 896-0477




About us: 
 
GPS Inventory Solutions has been an innovative leader in managing slow moving inventory for manufacturers in a variety of industries for over 30 years.  Our goal is to significantly reduce or completely eliminate your costs of carrying excess and slow moving inventory without impacting your customer service, sales or profits.  GPS headquarters are located in the Dallas/Ft. Worth area with additional locations in the Nashville, TN area.


Wednesday, August 24, 2016

How a $10 Billion Manufacturer turn their Unprofitable Inventory into Profits




GPS Customer Case Study: 
 
How a $10 Billion Manufacturer turn their Unprofitable Inventory into Profits

A $10 billion industrial equipment manufacturer recognized they had an inventory problem:  Too much inventory!  Finance launched an urgent initiative to reduce inventory.

Sales & Customer Service pleaded their case and demanded they maintain the entire inventory, especially service parts, as it was necessary to providing immediate support for their products in the field and customer satisfaction. They believed this justified the buildup of their overall inventory, the increased need for warehouse space, and their skyrocketed overhead costs, which all tied up their valuable working capital.

An analysis of the inventory identified a significant amount of excess and slow moving parts that had sporadic, unpredictable usage but its carrying costs outweighed any future sales or cost benefits.  These slow moving parts were also dragging down their very important overall inventory turns.

One of their previous reduction solutions was to sell it on the surplus market which still left them with a lot of residue.  Items sold into the surplus market at cost or below often ended up competing against them, or even worse, their customers!  They also found items were showing up in their customer returns for full credit. 

Their other option was to send the slow moving inventory to the scrap yard but this only provided a short term result. Besides, it was a painstaking effort to determine what to scrap and what to keep. Often within days of disposing of the inventory they ended up having a customer demand. This demand forced them to repurchase the items, usually at higher prices, with long lead times and minimum order requirements which created more slow moving inventory.

GPS Inventory Solutions was called in to help organize and optimize their inventory reduction initiatives.  Our profit driven GPS Inventory Bank programs offered them cost effective solutions that reduced or eliminated their overhead and inventory costs and had a positive impact on profits and shareholder value. 

Additionally, they retained immediate availability of the items so they could continue to provide a high level of product support to their customers.

Over a four year period of time by using the GPS Inventory Bank Program our customer:


  • Reduced their inventory by $24 million and avoided over $21 million in inventory carrying costs
  • Retained availability to satisfy 5,576 customer line item demands amounting to $5 million (at cost) of inventory activity for profitable customer sales 
  • Protected their brand and market integrity
  • Provided immediate item availability for long term product support
  • Freed up valuable warehouse locations and working capital
  • Improved workforce efficiency
  • Improved cash flows
  • Increased profits and shareholder value

Now that our customer has a proven cost effective exit strategy in place for their entire excess and slow moving inventory, they are no longer spending countless hours and multiple meetings trying to decide what to do every year.  Today they can use these resources to better focus on managing their profitable active inventory or other corporate initiatives.


For more information or to schedule a presentation to learn more about how our proven Profit Driven Inventory programs can work for your company, please contact us at (800) 896-0477 or email programs@gpsinventorysolutions.com.

GPS Inventory Solutions, Inc.

Email: programs@gpsinventorysolutions.com 
Website:  www.gpsinventorysolutions.com 
Toll-Free: (800) 896-0477




About us: 
 
GPS Inventory Solutions has been an innovative leader in managing slow moving inventory for manufacturers in a variety of industries for over 30 years.  Our goal is to significantly reduce or completely eliminate your costs of carrying excess and slow moving inventory without impacting your customer service, sales or profits.  GPS headquarters are located in the Dallas/Ft. Worth area with additional locations in the Nashville, TN area.