Reliable-Stock-Ready-Inventory

Reliable Stock™ Ready Inventory

Reliable Stock™ Ready Inventory provides you with the convenience of all your class C production component inventory onsite and available for use, as needed. Replenish inventory on your production floor directly from the Reliable Stock™ Ready Inventory.

Falcon will set up all of your parts with our lean approach to inventory management, including bins, labeling and a barcode scanner which connects directly with our inventory management database and ordering system. You are invoiced for your parts only when depleted bins are scanned for refill.

Your inventory levels will be managed by a dedicated Client Advocate. Your Client Advocate will assess your usage trends as well as manufacturing lead-time requirements from our suppliers and will use this information to set up reorder alerts within Falcon’s proprietary, in-house inventory management software. Our monitoring solution ensures you never have to worry about inventory stock-out or production down-times due to your class “C” components.

Your order will be received and processed at Falcon and shipped/delivered directly to your dock on our agreed-upon delivery cycle. Alternatively, a Falcon field technician can monitor and replenish your Reliable Stock™ Ready Inventory levels, if preferred.

 
 


Features and Benefits of the Reliable Stock™ Ready Inventory Program

Feature Description Benefit
Falcon-Owned Inventory On Site Falcon-owned inventory stocked onsite for immediate production use. Eliminate cost of inventory ownership, pay as you assemble, reduce/eliminate production down-time, convenience, immediately respond to spikes in client demand.
Client or Falcon Managed Ordering Your choice of the process that works best for you. Adaptable to your needs
Client-Generated Orders Client utilizes internal technology or Falcon’s Barcode Inventory System (see Available Services tab) to create orders Control inventory levels internally, greater control
Falcon Managed Ordering A trained Falcon Inventory Technician visits the client’s central stock or point of use (POU) location(s) to check inventory levels, scan empty bins, replenish empty bins and/or inventory and identifies any fluctuations in inventory usage to respond immediately to production cycle changes. Reduces internal labor hours, consistent management of production components, elimination of inventory receiving and put-away
Falcon’s Barcode Inventory System (FBIS) Includes bins, labeling, barcode scanner and docking station for order data transfer/upload directly to Falcon’s internal inventory management system. Seamless ordering process, time and cost savings, reduced potential for error
FBIS – Bins/Kanban Parts are only replenished based on actual usage, supporting lean initiatives. Reduces over-ordering, increases inventory turns, parts are available where you need, when you need and only the quantity you need
FBIS – Barcode Labeling Identifies client part number, description, reorder qty and bin location within client’s plant for accurate ordering and fulfillment. Supports error reduction in ordering and stocking
FBIS – Barcode Scanner Scanned information is uploaded directly to our system, processed by your Client Advocate, and a pick ticket is generated for products needing replenishment. Convenient, reduces opportunity for order entry errors
Dedicated Client Advocate A single, point-of-contact who establishes consistent communication to learn your business needs.  This person keeps constant watch on your inventory levels and works with you and your account daily/weekly to ensure you always have the parts you need on-hand. A partnership, Peace of mind, familiarity, advance warning system
Cross-Trained Back-up Client Advocate(s) Your Client Advocate will keep this staff member up to date internally, as well as involve them in certain training meetings to ensure you always have someone familiar with your account with whom to work. Reliable support
ISO 9001:2008 Accredited Quality System Falcon’s Quality Control Manager works with the client to define the quality expectations for each part managed and supplied by Falcon. See the Quality Process for New Parts. Clearly-defined quality expectations, consistent product quality
Client Expectation Alignment Falcon’s Dedicated Client Advocate works with the client to define preferences for receiving inventory. (i.e. packaging requirements, pallet weight or size restrictions, etc.), system integration requirements, communication preferences and overall program goals. Seamless integration with client system for receiving
6S – During Implementation/ Every 6 Months Organization of your work area (Sort, Set in order, Shine, Standardize, sustain, safety) Space and time savings in the plant / Improved Efficiency
Quarterly Review An opportunity to meet face-to-face with your dedicated Client Advocate to review and discuss your various cost savings reports for the quarter and to benchmark performance against established goals.  See Quarterly Reports tab for more information. Personalized goal review and alignment opportunity
Kaizen Event A yearly continuous improvement effort aimed at targeting areas to improve efficiencies or bring added cost savings to our program and/or the client’s production process. Improved efficiencies, cost reduction


Standard Reports Presented during Quarterly Review

Description Benefit
Quarterly and Monthly Sales Report Shows your quarterly and monthly investment for fastening supplies with side by side comparison of the previous year’s investment. Supports trending capability, see actual usage and cost
Investment Breakdown Report Details for available on-hand inventory amount, freight savings for the quarter, Internal (Falcon) labor hours spent to manage and support the account including information specific to your process such as: warehouse, kitting hours, assembly hours, account management hours, administrative hours, etc. Tangible cost savings information
Key Stats Table/Report A quarterly breakdown of the number of items we manage, number of orders generated, number of lines, average lines per order, average order value and average line value A clear snapshot of how much inventory is moving
Year-end Total Savings Report A full report on your actual 12-month purchase cost and a breakdown of the following cost savings factors: on-hand inventory that Falcon carrys and is available to you, yearly labor reduction hours for requirements specific to your account such as material handling (kitting), receiving, subassembly, AP hours, purchasing, inspection, etc.. Based on these hours, we can calculate labor cost savings. This report also shows the total savings in dollars and as a percentage of purchases. Clearly connect savings and value
Inventory Turns Using the 80/20 rule we examine your inventory and work towards increasing your overall turns Improved inventory turn rate
Benchmarking Report Description of the goals established at project inception (or previous quarter) and current status/performance against these goals. This is also an opportunity to establish new goals for the upcoming quarter as well as define additional information you would like to monitor/report/quantify. Continuous Improvement
Executive Report A quarterly or year-end summary report of final statistics/results of the program presented in an executive dashboard format. A high-level picture of overall cost and savings with Falcon


Other Services Available for the Reliable Stock™ Ready Inventory Program

Service Description Benefit
Central Stock Replenishment A trained, Falcon Inventory Technician delivers replenishment parts to the designated stock area(s) within your manufacturing facility. Internal labor hour reduction, convenience, elimination of inventory receiving and put-away
Integration Capabilities We can interface with your accounting system and/or your internal inventory management system for automated data transfer in invoicing, ordering and inventory management data. Saves time and reduces potential for errors
Cloud-hosted Technology Our systems are hosted in the cloud for easy access from anywhere internet access is available. Convenience, Accessibility, Service from anywhere
Basic Fasteners Training Basic fasteners training provided to your employees on site and free Employee Education
Fasteners Consulting Our knowledge and experience in Fasteners is available to your company for work on special projects, as needed. Free fastener consulting/expertise for your company’s use.