Question: As a mid-sized manufacturer, keeping inventory at “just in time” levels is difficult or impossible. Are there ways to reduce the cost of keeping inventory on hand?

A: Consider asking suppliers if they are willing to provide inventory on a consignment basis, advises financial consultants The Bonadio Group.  

Negotiate to hold inventory onsite without taking ownership and to pay for it only when you put it to work. Position the arrangement as a win for your supplier as well —…