Reliable Stock™ Lean VMI Solutions by Falcon
Falcon’s Reliable Stock™ lean VMI program delivers 100% production uptime efficiency, while lowering your overall inventory investment in class C production components and fastening supplies. This is achieved using Falcon’s 35+ years of experience honing our skills in the application of Lean inventory principles coupled with effective supply chain solutions. Customers participating in the Reliable Stock™ program can rely on the fact that their inventory needs are always Falcon’s top priority with an average of 3 months of on-hand inventory maintained by Falcon, and another 3-5 months of inventory on order with our trusted manufacturers.
Reliable Stock™ Lean VMI Solutions by Falcon
Falcon is pleased to offer the following tiers of service within the Reliable Stock™ program that can be customized to meet your manufacturing needs for ordering, receiving and stocking inventory:
| Reliable Stock™ CMO | Reliable Stock™ FMO | Reliable Stock™ Ready Inventory | Reliable Stock™ Onsite Branch | |
|---|---|---|---|---|
| Ordering | Customer | Falcon | Customer or Falcon | Falcon |
| Dedicated Acct. Mgr. | Yes | Yes | Yes | Yes |
| Bins, Labels, Scanner | Available | Yes | Yes | Yes |
| POU Replenishment | Available | Yes | N/A | Yes |
| Central Stock Replenishment | Available | Available | Available | Available |
| In-Plant Store | N/A | N/A | N/A | Yes |
| Quarterly Review | Yes | Yes | Yes | Yes |
| Kaizen Event | Yearly | Yearly | Yearly | 6 mo. |
| 6 S | N/A | 6 mo. | 6 mo. | Quarterly |
| Automated Invoicing | Available | Available | Available | Available |
Falcon Fastening’s Lean Approach to Inventory Management
Kanban
Most of our programs incorporate the use of the Kanban method for inventory management; A visual approach, with bin 1 containing a minimum stock quantity used in production, and bin 2 as a reserve to meet demand until bin 1 is replenished. We also offer a 1 bin system using the same principle. This is a true “pull” system where inventory is replaced based on demand.
Barcode Labeling and Scanning
Falcon’s technology-driven reordering system uses barcoded labeling and a handheld scanner to assist in managing the ordering process for fasteners and class “C” production components. Parts are only replenished based on actual usage, fulfilling one of the key principles of lean manufacturing: “Flow where you can, pull where you can’t, never push.” Our solution offers a true pull system.
Our barcode system eliminates the tedious process of checking inventory levels, filling out requisitions, sourcing, inspecting (link to quality), carrying inventory and expediting overdue orders. Reordering material becomes a simple process of scanning the labels for items below minimum stock level. The scanned information is uploaded directly into our computer system, a pick ticket is generated for products needing replenishment, and they are delivered to your storage location on an agreed-upon cycle. Falcon assumes full responsibility for ensuring you have what is required to build your finished product. We can implement this program at either a central stock area or at point of use (POU) locations.
These two systems flow into our proprietary inventory management software and offer improved responsiveness to any changes in demand, either for additional material, or stop the flow of non-needed product. This allows us to manage inventory levels by rule and by exception.