Reduce hard/soft procurement and plant costs, increase control and visibility of inventory with our RITE-STOCK™ Component Management Programs.
Fast-Rite offers a variety of RITE-STOCK™ Programs, these Lean Distribution-based inventory management systems are designed to optimize the way you run your business. These RITE-STOCK programs utilize the latest technology available to ensure accuracy and timeliness – and eliminate supply chain redundancies – lowering your overhead and increasing your profits!
Our next-gen RITE-STOCK™ app streamlines your entire inventory program!
- Simplifies stockroom replenishment.
- Use your choice of scanning tools, including computers, phones, RFID or SensorBins to optimize point-of-use inventory replenishment.
- Go paperless and send digital POs directly to our ERP.
- Decrease procurement costs by up to 90% by digitizing PO’s.
- Decreases inventory levels and annual carrying costs by up to 73% through optimization.
- Eliminates stockouts by optimizing inventory.
With Fast-Rite’s RITE-STOCK™ programs, you can:
- Minimize inventory
- Maximize production space
- Reduce floor space needed for inventory
- Recapture floor space for production
- Minimize safety stock
- Manage/reduce waste
- Eliminate Customer MRP
- Reduce administration, inventory and expediting soft costs
- Your stock is delivered right to the point of use, where and when you need it
- Consolidate purchasing and billing
- Reduce labor time
Fast-Rite’s RITE-STOCK™ has three standard levels
1 RITE-STOCK™ Replenish
RITE-STOCK™ Replenish is up to 10x faster than replenishing through an e-commerce site or with a pencil and clipboard because it only requires a scan and a tap to send your order, saving time, reducing errors, and lowering costs. RITE-STOCK™ Replenish can decrease procurement costs by up to 90% by reducing PO’s.
2 RITE-STOCK™ Manage
RITE-STOCK™ Manage gives you full transaction history, signature captures, and virtually any report you need, with over 80 standard reports included. Our Min/Max dashboard will help you reduce inventory dollars. It can even support consignment.
3 RITE-STOCK™ Optimize
Our Premier Solution, RITE-STOCK™ Optimize includes our Min/Max Tuning Dashboard, which calculates each item’s optimum Min/Max levels based on most recent usage, then quantifies cash savings and reduced carrying costs. RITE-STOCK™ Optimize supports kitting, requisitions, spend limits, tool crib management and asset tracking.
Need a customized solution?
RITE-STOCK™ Customer Managed Inventory
For those who prefer a self-managed solution. Some Customers are required to have a limited access / secure facility and must restrict access to their facility to their authorized employees only.
Our CMI E-Portal provides the exact tool they need to have complete inventory control and a simple, efficient method to replenish stock while controlling their environment.
The customer has a secure login to our system where they can see their items, reorder as needed, track shipments, and see billing info.
RITE-STOCK™ Total VMI
We do everything for you! We deliver direct to your Factory Floor, Line, Cell, or Point of Use, record all data and replenish via controls, and remove empties or waste.
RITE-STOCK™ TOTAL VMI gives you have the right materials, exactly when you need them. You’ll receive bins filled to a per-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. Total VMI reduces the storage space needed by eliminating excess product stock, reducing your inventory dollars and material handling costs.
RITE-STOCK™ Site Manager
Our Premier Program Offering, RITE-STOCK Site Manager / Man In Plant Solution incorporates On-Site RITE-STOCK™ VMI Team members, dedicated and focused on your individual plant and supply needs. They interface with your personnel to ensure a smooth-running operation.
Do you have a high volume, high service need? Fast-Rite will establish an in-plant presence with specially trained and dedicated personnel to provide customer data collection, organization, delivery, put-away, and MRP processing to minimize your transactional and labor load. They serve as extensions to your manufacturing and engineering leads as a first line of service to resolve challenges and devise solutions.
RITE-STOCK™ Virtual Inventory System
RITE-STOCK™’s innovative VIRTUAL INVENTORY SYSTEM uses the latest technologies to electronically monitor and automatically trigger replenishment for their inventory. Using the latest in Sensor Bin technology, 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.
Our Auto-Managed 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.
Puts your MRO supplies where your employees are, eliminating walking wages and creating accountability. Typical consumption reduction is 20% or more!
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. RITE-STOCK™ 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 easily access current inventory status usage.
Kan ban/E-Kanban & JIT Programs
Kanban and E-Kanban improves your supply status and workflow by giving you easy to use tools to visualize your inventory.
The most obvious benefit of using Kanban is improved flow efficiency that happens shortly after the method is implemented into your organization.
Visualizing your process will highlight areas of inefficiency very quickly. Once you’ve identified your problem, it is time to start asking questions! Bottlenecks, stalled tasks, and too much work in progress are clearly visible on the Kanban board. Each obstacle you eliminate makes your process smoother and more efficient.
Productivity is improved, your focus changes from starting production to finishing production.
Your cycle time and throughput give you measurable increases.
It’s a pull system, your team pulls the stock only when they have need for it.
JUST-IN-TIME Programs mean the inventory is there when you need it, and not taking up space and inventory dollars until it’s time for it to become work in progress.
Control your spending
Fast-Rite is introducing advanced new features that give our customers enhanced capability to control their spending, set workflow approvals, and minimize their transaction overhead while enabling employees to do their job easily.
Extensive user control
Once an administrator is created and logged securely into the system, the administrator then can create user and user groups in the system, and grant (or revoke) permissions, assign part lists and spend limits to the users downstream. User groups allow the usage of permission templates to simplify the administration.
When the user accesses the store, their login is validated against the security requirements, and permission is granted or restricted against the permission templates.
They can then shop and order the items they are allowed to requisition. But the process doesn’t stop there.
Robust reporting capacity
A robust reporting capacity allows users with privileges to receive either overview or detail of requisition, pending requisition status, orders, current balance, open balance, invoice aging, and to compare budget to actual orders or deliveries. This system provides all or selected/filtered transaction data for the selected universe, including purchase orders, invoices, credit memos, debit memos, and statements.
Simplified cost accounting
Our advanced system allows customers to set up their usage items, cost centers, and budgets in our system. Costs are allocated to specific departments, jobs, or cost centers, and spending is monitored by category. Are your departments living within their budgeted costs? You can see the answer immediately.
Workflows automate notifications and simplify approval processes
Once the order is created, a workflow is begun, and the requisition then is checked against their permissions. If the items are restricted or if the amount is over their spend limit or the budget limit, then the order is held and an approval request goes up to the designated approvers or managers, starting with the approvers that have the least amount of sufficient approval authority and cascading upward.
The approver can approve, deny, or pass the requisition upstream to the next higher level until a final disposition is made on the request. Notifications are automatic.
What’s the ROI?
Our Spend Management solution makes it easy for customers to see and control their spending in exacting detail while minimizing the transaction load by enabling employees to do their work without unnecessary restrictions but preventing non-budgeted purchases. This speeds up the entire procurement process, reduces the transaction cost involved, creates an audit trail of all purchases, and ensures policy is followed.
Vending and digital bins
Want 24/7 access to resources?
Don’t want to have to pay for a crib attendant? How about having supplies located near your point-of-use so employees don’t need to walk through the plant to get what they need? An audit trail on all material pulled? How about automatic reorders so you never run out? Need to restrict access to your supply bins?
Sometimes the best man for the job is… a machine!
Fast-Rite offers multiple vending and digital bin system that can be extensively configured for any vending solution.
Our vending machines help you eliminate stock outages and increase productivity by providing a complete VMI solution that gives you complete control over your supplies. Our machines are a convenient and accurate way to track employee supplies such as tools, parts or personal protective equipment (PPE).
If you work in an industry where tracking a large inventory of materials is critical to your operations, a vending machine may be the right solution for your company. Employee-vended supplies will bring control to your workplace by recording what is taken, restricting employees from taking too much, and reporting the status of all items for refill or accounting purposes. There’s no need to fumble with change or iron dollar bills to fit into temperamental machines. Instead of money, employees can walk up, enter their pin or swipe a magnetic stripe card. Then they enter in the item they want.