Vendor Inventory Service
Save Time on Supply Chain Management
Enjoy full oversight of your inventory with minimal effort by using this supply-chain management service that takes care of all your data analysis, sales forecasting, purchasing, and distribution needs
Vendor Inventory Service (VIS) is a full-service supply chain management integration designed for telecom retailers
Vendor Inventory Service (VIS) is an automated inventory system and service that links processes and information from RQ directly to your supplier, creating an efficient and intelligent inventory system. It is a service that takes on all the data analysis, sales forecasting, purchasing, and distribution, which gives telecom retailers full oversight of their inventory with minimal effort, allowing you to focus on providing consumers with a great experience.
iQmetrix has partnered with suppliers that make inventory recommendations and provide telecom retailers with transparent reporting. This enables you to accurately and efficiently make purchasing decisions and drive sell-through while keeping inventory fresh.
Free up time managing inventory
VIS improves visibility to inventory performance and metrics, so your inventory team can spend more time on sales-driving activities such as training, promotions, merchandising, and more. They will spend less time ordering and analyzing, and instead be able to make quick, informed decisions.
Maximize profits with intelligent inventory management
VIS means smarter, healthier inventory. You’ll have the right amount in stock exactly when you need it, maximizing sales through fewer out-of-stocks, and saving money by spending less on excess inventory. We’ll also proactively recommend returns to process slow-moving inventory.
Efficient supply chain
Supply chain vendors are experts in their field and serve as an extra pair of eyes on your inventory and supply chain strategy. With RQ, retailers get visibility of inventory across channels and transparent reporting on their inventory. Our integrated partner vendors’ platforms offer robust data on inventory and sales details for fast decision-making. Plus, these platforms offer easy-to-use functionalities to accept orders and get inventory recommendations, while keeping control and oversight of your inventory.
Vendor Inventory Service Partner Ecosystem
Vendor Inventory Service Features
Inventory Replenishment
Direct-to-store automated replenish and stock-balance processes based on sales and inventory data. Retailers get flexible level controls to streamline analysis and adjustments.
Demand Forecasting
Tailored stock models based on region, square footage, and customer preferences.
Order Management
With VIS, you can create orders including POs, RMAs and Transfers, and get order status reports on all these actions.
White-Glove Service
VIS vendors provide recommendations on best-selling inventory, proactive returns recommendations and processing for slow-moving inventory, plus detailed monitoring and reporting performed by designated specialist.
Data Analysis & Reporting
Pull inventory reports specific to the vendor’s SKUs, including sell-through data and SKU performance, giving you transparent, clear data at your fingertips.
Frequently Asked Questions
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Does VIS make the Inventory Manager’s job obsolete?
No. You may have heard of recent advancements that allow artificial intelligence to do a job once done only by humans. (Scary stuff for those humans.) But, like AI technology, VIS only helps humans do their jobs better. VIS helps inventory managers be more productive and precise. Inventory managers know their inventory, store, and promotions better than anyone.
Furthermore, with a VIS system, inventory managers can better anticipate demand and make data-driven decisions to address seasonal or market trends. They can allocate more time and energy for researching and testing new products, implementing bundle accessories campaigns, and other growth strategies.
Remember, VIS is an extension of the team — not a replacement.
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Will I lose control over my inventory using VIS?
No — in fact, the opposite. It is a common misconception that it is difficult to control inventory changes with a VIS system because the ordering process is automated and there is little to no supervision. However, the main objective of VIS is to automate time-consuming manual tasks like purchase-order creation and inventory forecasting, and to minimize risks involving inventory changes. It is essential that vendors maintain clear communication with retailers to establish what products should be launched or phased out.
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What is the difference between Vendor Inventory Service (VIS) and Vendor Managed Inventory (VMI)?
At iQmetrix, we’re continuously working to create a more seamless experience for you and the end consumer. For that reason, our renovated Vendor Inventory Service (VIS) platform will pair modern technologies with existing VMI offerings to build a strong foundation for streamlined and efficient monitoring and resupplying of essential inventory.
The new VIS architecture aligns with our overarching product and business focus around inventory movement. We are committed to increasing the transparency of inventory across our entire ecosystem of vital stakeholders, from carriers to enterprise retailers to brands and our distribution partners.
So what’s the difference with VIS, aside from it being built on modern technology?
Top Challenges with VMI
- Restrictions for feature development
- Complicated, challenging to troubleshoot issues
- Outdated SOAP platform, with limited opportunity to add value
Benefits of a Modernized VIS Platform
- Similar endpoints retrieve location, inventory, and sales reporting while still being able to push POs and RMAs (Return Merchandise Authorizations)
- Service-based; not RQ release-dependent
- New endpoints to execute transfers between stores
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How should I choose a distribution partner?
When selecting a distribution partner, you want a cross-functional team who provides concierge support, comprehensive value-added services, and years of experience to empower your sales growth. A distribution partner that watches inventory flow and conducts forecasting, taking into consideration the real inventory demands of their clients. A partner that offers accurate demand forecasting and spares their clients from a backlog of inventory and shelf pulling.