Inventory Health Check

Step 1 of 10 - About The VMI Fitness Assessment

The Inventory Control Health Check

DISCLAIMER: This assessment is NOT for all manufacturing companies!

Who should take this assessment?

This fast (~11 minute), self survey has been designed to quickly and accurately assess an original equipment manufacturer’s (OEMs) currentinventory control and optimization practices

Typically, these OEMs are looking to:
- Cut Spend,
- Reduce Stock,
- Slash time wasted in managing low-value part inventory,
- Shield against shutdowns,
- Reduce lead times,
- Eliminate rush orders, and
- Liquidate overstock.
Who should NOT take this assessment?

This assessment cannot consistently assess or provide recommendations for non-OEMs (i.e. food and drug, oil and gas, etc.).

4 Need-to-Know Things Before You Begin!
1. It takes roughly 11 minutes for the average person to complete this assessment, however we recommend allowing for up to 15 minutes without interruptions.
2. Most assessment takers don’t know the answer to more than one question. When that happens, simply select “unsure” or offer your best guess. At the end of the survey you may request to have your results personally critiqued and verified at no cost.
3. Both the assessment and your results are completely FREE.
4. Because completing this assessment also helps us better serve our clients, at the end you will be offered a limited opportunity to claim a FREE, no-obligation, deep-dive analysis and personal walk-through of your results with a Strategic Coordinator.*
*If you choose to redeem your free analysis, during your session we will further clarify and refine your responses, fine-tune your results and answer any questions you may have.
There is no obligation to accept this free offer.

Reserving your free offer does not affect the content or delivery of your rapid results. You will NOT be asked to make any buying decision during your session.

This assessment is provided as a courtesy by Falcon Fastening Solutions, Inc.

Falcon provides lean inventory solutions to help manufacturers cut spend, liquidate overstock, reduce lead times, eliminate rush orders, shield against shutdowns, and slash time wasted on managing low-value (class “C”) production components.

Your information is completely confidential and is not shared with any third party.
Begin Assessment (~11:17 minutes remaining)*
- I have read and understand the above.

Please specify:*
HIDDEN: Company Industry
Biggest inventory challenge*
In just a few words, what do you feel your single biggest challenge is in managing parts inventory?
Company's Primary Industry*
- Aerospace
- Automotive
- Construction
- Consumer Goods Mfg
- Defense
- Industrial Machinery
- Marine

Are all inventory parts classified into ABC (Pareto) groups?*
ABC or Pareto groups are groups of parts classified in terms of their total annual cost and velocity (turnover). The benefit of classifying inventory this way is in determining the optimal management methodology. Typically, inventory classification consists of 3 primary groups (i.e. A, B, and C).
Yes
No
I'm not sure
HIDDEN: Can you or someone else in your company identify the components that account for 80% of its total production component spend?
Yes
No
I'm not sure
Does your plant maintain a comprehensive Plan-For-Every-Part (PFEP)?*
A PFEP is single centralized data source that contains all important planning data for each part. Data includes supplier, lead time, reorder quantity, point-of-use, assembly usage, and much more.
Yes
No
I'm not sure
Does a standard operating procedure and form exist for adding parts or making changes to the PFEP?*
Yes
No
I'm not sure
Does your plant have assigned PFEP managers (designated individual(s) responsible for making required changes to the PFEP)?*
If anyone or if someone from multiple departments can access and change the PFEP then the answer is "no".
Yes
No
I'm not sure
Does everyone else (individuals NOT designated as a PFEP manager) have READ-ONLY access to the PFEP?*
READ-ONLY access includes the ability to look at the PFEP, but excludes the ability to change any data in the PFEP.
Yes
No
I'm not sure

Congratulations, the average person has less than ~57 seconds left at this point!

Supplier Parameters

Please indicate how well you feel each statement describes your supplier(s).
Rate statements on a scale of 1-5 where...

1 = Does not describe your supplier(s) at all.

5 = Describes your supplier(s) very well.
High levels of trust and long-term relationships with our part suppliers exist.*
1 2 3 4 5
Our company openly shares inventory/forecast information with suppliers.*
1 2 3 4 5
HIDDEN: A few key part suppliers constitute a high percentage of production components.
1 2 3 4 5
HIDDEN: Our part suppliers are knowledgeable about best practices in proactive inventory management
1 2 3 4 5
HIDDEN: Our company’s information system is fully integrated with our part suppliers.
1 2 3 4 5
HIDDEN: Our company shares information with production component suppliers in the following ways (check all that apply).
cXML
EDI
ERP Integration
Punch-out
Spreadsheets (xls, csv, etc.)
Supplier ePortal
I'm unsure
Other

HIDDEN: Select the option that most accurately describes your current supplier situation.
Our company is interested in working with new suppliers.
Our company refuses to consider working with new suppliers.
Our company prefers to keep its current suppliers but is open to considering change.
Drag-and-Drop the vendor evaluation parameters below to rank them in order of importance from top (being most important) to bottom (being least important)...
What is the relevant importance to your company of supplier parameters. (Hint: If unsure, this should correlate with how procurement performance is evaluated.)
Quality
Total Cost of Ownership
On-time Delivery
Simplified Invoicing
Flexibility
Piece Price
Engineering Services & Resources
Reliability
Other

Congratulations! You're almost there!

HIDDEN: Our company has...
(select the option that best describes your company)
implemented lean methodologies.
NOT implemented lean methodologies.
I'm unsure.
HIDDEN: Our company is extremely satisfied with the results of its lean initiatives.
Please indicate how well you feel the statement below describes your company.

1="does not apply at all"
5="completely applies"
1 2 3 4 5
HIDDEN: Select the option below that best describes your personality.
I am interested in knowing how lean methodologies can improve productivity, efficiency, and long term profitability.
I don't care at all about the benefits of lean.
Your Primary Department or Functional Area*
Please select your primary functional area from the choices below
Engineering
Lean / Six Sigma
Logistics & Warehouse
Operations / Production
Procurement
Quality / Compliance
Name*
First Last
Email*
We need your email so we can send you a secure copy of your rapid results and tentative recommendations.
We don't share your information with third parties.
You will not receive any further contact from Falcon, unrelated to this assessment, unless you explicitly elect to.
Enter Email Confirm Email

I would like a no-commitment deep dive analysis and walk-through of my results.*
In addition to the rapid results that we will email you immediately after you complete this inventory assessment, we also offer assessment takers the opportunity to claim a free no-commitment deep analysis and one-on-one walk-through of your customized recommendations. Basically, we explain results, answer questions, and offer advanced recommendations.
Yes, I'd like to claim my FREE deep-dive audit, advanced recommendations, and results walk-through!
No, I don't care about any of that stuff.
Terms of use.*
The Inventory Control Health Check and Rapid Results are for general informational purposes only. The tool and results are not intended to substitute for the advice of a qualified professional in lean manufacturing, inventory systems or supply chain management. A properly qualified and designed inventory solution requires a deep analysis and customization. By checking this box you affirm that you have read and understand the above and that a representative from your company will contact Falcon before making any decisions based this assessment or rapid results.
I agree to terms of use

Last Page!

Confirmation & Information for Benchmarking

Phone*
Address*
City State / Province / Region ZIP / Postal Code Country

Company Name*
Which topics would you like FREE additional content on?
(Check all that apply)
Lean Manufacturing
Supply Chain / Logistics
Inventory / Warehouse
Fastening Best Practices
How often would you like to receive content from Falcon?
(You may cancel anytime)
~1x week
~1x bi-weekly
~1x month
~1x quarter
Untitled Quiz Field
First Choice
Second Choice
Third Choice
IMPORTANT:After you click the "See My Results!" button below, it is normal for the web page to go blank while your rapid results are calculated, and your report is emailed to you.
Please do not close your browser window until you see the confirmation page and receive your results in your email.