Purchasing Update 2024
It’s time for a Purchasing Update from the team that works seamlessly with Fastco’s tool rooms and other departments to handle inventory and purchasing.
In Purchasing, one of our recent points of focus has been tooling inventory accuracy and management. On the inventory control side, we have been working tirelessly to ensure the Plex Toolset BOM’s are accurate and fully loaded, giving us greater visibility on cost, inventory value, and projected tooling needs. Optimizing our storage solutions for tooling has freed up space in the shuttles for new work.
Meanwhile, our purchasing assistant has sorted and labeled obsolete tooling provides a significant savings on tooling material as we’re able to repurpose this old tooling for current jobs.
Purchasing Update on Department Goals
Our number one goal this year is Point of Use Storage for tooling. It’s been on our list for quite a while. This year is the year we can get it done.
Open-Book Management and Purchasing
The open-book style of management has generated some great discussions and questions from our team. We’ve incorporated some of these into our processes. We are working on implementing additional ideas that will ultimately improve profitability in the future.
The inventory control team had already been communicating potential (or actual) stock outs to the Tool Room and Purchasing functions. The addition of our scoreboard drivers will generate long-term solutions to some of the common issues we’ve been seeing. With the improved transparency, score boarding, and utilizing the Great Game of Business framework to conduct business, I am incredibly excited to see what cross-functional collaboration we achieve. In addition, I am eager to see how much better Fastco will be performing in the coming years!
by Aaron Headrick, Purchasing Manager