Reliable Stock™ CMO

The Reliable Stock™ Customer Managed Ordering (CMO) program is ideal for customers who prefer to manage their ordering in-house through either their own internal ordering system or using Falcon’s lean inventory management system.

With Reliable Stock™ CMO, even though you generate the orders, you still have the peace of mind that a VMI program brings since your inventory levels will be managed by a dedicated account manager. Your account manager will assess your usage trends as well as manufacturing lead-time requirements from our suppliers. Your account manager 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 the class “C” components managed by Falcon. Your order will be received and processed at Falcon and shipped/delivered directly to your dock at an agreed-upon delivery cycle. Alternatively, a Falcon field technician can replenish inventory directly at a central stock or point of use (POU) location on your production floor.

Features and Benefits of the Reliable Stock™ CMO Program

Feature Description Benefit
Customer Generated Orders Customer utilizes internal technology or Falcon’s Barcode Inventory System (see Available Services tab) to create orders Control inventory levels internally, greater control
Dedicated Account Manager 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 Account Manager(s) Your Account Manager 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 customer 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
Customer Expectation Alignment Falcon’s Dedicated Account Manager works with the customer to define customer 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 customer system for receiving
Quarterly Review An opportunity to meet face-to-face with your dedicated account manager 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 customer’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 carries 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 customer 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 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™ CMO Program

Service Description Benefit
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 customer part number, description, reorder qty and bin location within customer 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 account manager, and a pick ticket is generated for products needing replenishment. Convenient, reduces opportunity for order entry errors
Point of Use (POU) Replenishment A trained, Falcon Inventory Technician delivers replenishment parts to the point of use on the production floor. internal labor hour reduction, convenience, reduce or eliminate stock area/footprint, elimination of inventory receiving and put-away.
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.