A DIVISION OF FAST-RITE INTERNATIONAL
Save Money & Time With Rite-Stock Vendor Managed Inventory (VMI)
Reduce warehouse costs, and increase the control and visibility of your inventory with Fast-Rite’s Vendor Managed Inventory programs.
Fast-Rite offers a variety of Lean Distribution-based inventory management systems designed to optimize the way you run your business. These real-time programs utilize the latest technology available to ensure accuracy and timeliness. Our vendor managed inventory (VMI) programs eliminate your supply chain redundancies – increasing your profits and lowering your overhead.
-Our next-gen VMI app streamlines stockroom replenishment
-Go paperless and send digital POs directly to our ERP.
-Decrease procurement costs by up to 90% by digitizing POs
-Decreases inventory levels and annual carrying costs by up to 73% through optimization
-Eliminates stockouts by optimizing inventory
With Fast-Rite’s Inventory Management Programs, You Can:
- Minimize your inventory
- Maximize your production space, while reducing floor space needed for dedicated inventory stock
- Eliminate safety stock
- Manage waste
- Eliminate MRP
- Reduce soft costs associated with administration, inventory and expediting
- Ensure your stock is delivered right to the point of use, exactly when you need it
- Consolidate purchasing and billing
- Reduce labor time
Rite-Stock Replenish is 10x faster than replenishing through an e-commerce site or with a pencil and clipboard because it only requires a barcode scan and a tap to send the order to the distributor. It saves time, reduces errors and costs, and allows you to migrate to other Rite-Stock offerings that will optimize inventory levels when you are ready.
- 10x faster than e-commerce
- Decrease errors, stockouts and excess stock
- Decrease procurement costs by up to 90% by reducing Pos
- Min/Max tuning dashboard
- Unlimited Users
- Smartphone App based program
- Fast-Rite staff, or your warehouse staff scan to order.
- Unlimited users
- Orders are submitted for approval before going directly to our ERP.
- All of the benefits of Replenish
- Manage consigned inventory, app captures all usage transactions.
- One set of books for reconciliation.
- Manage serial and lot numbers, and expiration dates.
- Manage inventory on service trucks.
- Scan items as they are being used
- App records usage once a minimum is reached an automated order is created
- All of the benefits of Replenish and Manage
- Min/Max dashboard will show how much cash can be taken out of inventory
- Manage kitting and sub-assemblies
- Know exactly how many of any kit can be built with available components thanks to real time visibility.
- Tool crib management
- Asset maintenance tracking
- Multiple different usage options
- The app records usage and continuously compares to the minimum
- Once the minimum is reached an automated order to maximum is created
- RFID – Scan empty bins to record usage
- SensorBins – Physical inventory is taken twice a day. Fully automate no touch.
Mobile App (IOS, Android)
- Unlimited users, items, suppliers
- Simple reporting
- Barcode label designer
- QuickBooks integration
- Certification: SOC II Type 2
- Easily upgrade to Rite-Stock
Manage or Optimize
- 10x faster than e-commerce
- Decrease errors, stockouts,
- 1 app to reorder from any
- Reduce PO costs by up to 90%
Includes everything in Replenish, plus:
- Track usage, jobs, orders,
receives and quantity on hand
- Work order signature and
- Advanced reporting: customize and schedule 73 reports
- Quick Lists, transfers, staging, serial #s, lot #/dates
- Alerts Dashboard with analytics
All the benefits of Replenish, plus:
- Real-time visibility of on-hand
- Collect AR faster with job photos
- Use consigned inventory
- Be proactive with email alerts
Mobile App, RFID, SensorBins
Includes everything in Manage, plus:
- Min/Max Tuning Dashboard:
calculates what each item’s
- Min/Max should be based on
recent usage, then quantifies cash savings and reduced carrying costs
- Project spend limits
- Tool crib management
- Asset maintenance tracking
- All the benefits of Manage, plus:
- Reduce inventory and costs up to
- Analytics show potential cash
Inventory Management Programs
- Customer E-Portal – For those who prefer a self-managed solution.
- Total VMI – We deliver direct to your Factory Floor, Line, Cell, or Point of Use.
- Site Manager Solution – On-Site Fast-Rite VMI Team member(s) dedicated and focused on your individual program.
- Fast-Rite Virtual Inventory System – Electronically monitor and replenish stock
- Fast-Vend Solution – Puts your MRO supplies where your employees are, eliminating walking wages. Typical and may reduce your consumption by 20% or more!
- E-Kanban– Easily maintain inventory based on the amount you use.
- Bill of Material– Simplify ordering and reduce waste by letting Fast-Rite determine the number of components you require.
- Just in Time– Get your parts delivered exactly when you need them.
- The customer has a secure login to our system where they can see their items, reorder as needed, track shipments, and see billing info.
- Example: A major supplier of power equipment uses the customer-managed E-Portal to scan consigned inventory usage. They scan the boxes or containers which issues consigned stock to the customer inventory. Upon a drop to the reorder quantity, the order is automatically created and upon reaching the min level, the item is filled and shipped again.Upon the new stock’s arrival, the receipt is logged into the system and tracking details are captured.
Fast-Rite’s TOTAL VMI Vendor Managed Inventory System ensures you have the right materials, exactly when you need them. You’ll receive bins filled to a pre-determined level. Once each bin falls to a certain point, we’ll refill your bin. Fast-Rite uses a sophisticated bar code system to ensure accuracy and timeliness. By overseeing and restocking your bins, we’ll save your staff the time and cost of monitoring your inventory. Bin Stock reduces the storage space needed by eliminating excess product stock, reduces your inventory dollars and material handling costs.
A virtual multitude of options or combinations of said options is customized to optimize the specific customer business case and environment.
- Consignment programs work well to eliminate inventory dollars and simplify transactions.
- VMI programs can minimize inventory floor space and dollars. Well-designed delivery direct to the cell or line can eliminate transaction overhead, stock movements, and logistics labor costs.
Safety stock can be minimized.
- High Service needs. Delivery to Supermarket or cell locations
Example: A major lighting manufacture is supplied solely by a VMI program where order data is captured by Fast-Rite employees who electronically transmit the captured orders back to our plant where restock material is packed, loaded into trucks, and readied for the next shift delivery. This lean system allows for greatly reduced safety stock – only 4 hours of material. The Inventory Footprint is virtually eliminated and material is strategically placed at or near the POU.
Site Manager / Man In Plant Solutions
For high volume programs that have a high service need. Fast-Rite will establish an in-plant presence with specially trained and dedicated personnel to serve customer data collection, organization, delivery, put-away, and MRP processing to minimize the customer transactional and labor load.
- Example: A major hard good manufacturer contracted with Fast-Rite to do a complex VMI program in a very dynamic environment involving multiple points of use, hundreds of SKU’s and varied packing sizes and methods. Our personnel is stationed in the customer facility to perform both VMI functions and also do MRP analysis and order functions for the customer, thus relieving them of that manpower demand. In addition, they serve as a front-line interface with the line and cell personnel in order to streamline and simplify the supply chain and provide an instant response to any challenges that arise. They provide data collection scanning services, replenish tote locations, and direct material handlers for powered functions. Deliveries are made daily or multiple times a day.
Fast-Rite Virtual Inventory System
Fast-Rite’s innovative Virtual Inventory System uses the latest technologies to electronically monitor and automatically trigger replenishment for their inventory. Using the latest in digital bin systems, we can know exactly when your parts reach their replenishment trigger and can prepare the next refill, without walking in to scan the rack. Did the third shift consume everything in bin C5? We will know it, and can react to this immediately. This program can eliminate the need for purchase orders and saves time, freeing up your valuable resources to do other work. Powered by SAP, this flexible program can be tailored to your company’s specific needs.
- Auto-Managed devices including bin scales, automatic data feed bins.
- Our calibrated Weight activated bins can calculate bin quantities either by exact count or trigger point. The first is an exacting count of item quantities, allowing an understanding of usage per day. Usage by the user can be tracked also. Reorders are activated upon bin quantity reaching pre-set minimum levels.
- Our Actylus TM brand bins work by a minimum level trigger point. Upon reaching the minimum the individual bin signals Fast-Rite for replenishment and also lights up for visual confirmation.
E-Kanban, Kanban & Just-In-Time Delivery
Easily maintain and replenish inventory levels based on the amount you use
Kanban is a pull-based inventory system that continuously supplies components and parts – so you have what you need, where you need it, when you need it. A key component of Lean Manufacturing principles, Kanban reduces inventory, eliminates stock-outs, and slashes overhead. Kanban uses a card-based system to track inventory supplies, while E-Kanban uses technology to oversee the process. As products are being used, a card signals the need to produce and deliver a new shipment. Once inventory is pulled the systems are sent immediately, avoiding any delays in communication, reducing the replenishment cycle time and inventory levels.
Get your parts delivered exactly when you need them.
Keeping extra stock sitting in your warehouse to avoid a shutdown is not only impractical but costly as well. With Fast-Rite’s Just-in-Time inventory solution, you can specify when you need the parts and we’ll deliver them when you want them – whether it’s days or merely hours before they’ll be used. We ensure you have the parts available when you need them, eliminating the costs of excess inventory. Just-in-Time frees up warehouse space, maximizes cash flow, and keeps your line moving for maximum efficiency.
- We’re not limited!
- We customize our programs to fit the customer’s needs, not our cookie cutter!
We can use a variety of tools including hand-held wireless terminals, tablets, laptop devices, android or Iphones to interface via the portal, data upload, EDI, spreadsheet upload through Winshuttle™, flat file, and probably more. Solutions can be customized to the customer environment. Our current programs are varied, some use EDI, Some of our specially developed programs on Windows CE devices, Some of our SAP Direct Customer Portal, and some Winshuttle ™ solutions. What do you need? We can supply it!
- Big bins. We use multiple options including Powell Systems Flowmation ™ Gravity fed bins for large containers holding up to 2500 lbs of material. And we also use Large Poly Bins that can hold up to 1200 lbs of material yet can be picked up and moved by hand without power equipment.
- Fastener Totes. Multiple options are available including our specially designed standard AIAG fastener tote with its ergonomically friendly design. Oversize options include Various AIAG standardized straight wall containers and other options.
Example: A leading security equipment provider uses the State of the Art Vending machines to control expensive MRO supplies. Extensive documentation is provided of user transactions including item, quantity, date and time used, and applicable user number. Fast-Rite monitors real-time transaction data and reships upon the minimum trigger point.
Data capture can be via swipe card, RFID, Keycode, or other methods. Data lockers can be added for larger items. Customers can access current inventory status usage.