Inventory Management
Valco Industries
Company Profile:
Valco Industries is a leading industrial metal fabrication company located in Springfield, Ohio. As a 100% Employee-Owned Company, Valco serves major suppliers of electronic and display cabinetry, truck accessories and replacement parts, conveyor and sorting industries and specialized vehicles such as fire trucks, paramedic vans, ambulances, and street cleaners and many more.
“In addition to the significant operational improvements, having FastLane guide our team through the 5S events, has led to comradery among the cross functional team members. This has raised their sprits significantly. Our people feel good about what they have accomplished and there is an increased pride in what they do.”
Bill Brougher, General Manager
Situation:
Valco wanted to increase sales and improve performance, but they had no engineers on staff and a small team. They determined that the laser department needed the most help. Valco wanted to improve their sheet metal inventory management to increase efficiency and reduce wasted time and space, while improving machine productivity. Getting behind in the laser department prohibits time delivery. And almost every product they make goes through the laser department therefore, a streamlined product flow is critical.
Solution:
FastLane helped Valco to select a cross functional team and worked alongside them to 5S the laser department. The laser department was cleaned, old items were discarded, materials were labeled, and inventory was organized. As a result, the overall workflow has been drastically improved. The Valco team knows where the needed materials are located which reduces time wasted searching and the materials used most often, are conveniently located near the point of use. The use of available space has been maximized, freeing up about 3,000 square feet. All these improvements have led to a reduction in inventory, lower carrying costs, increased efficiency, and production output.
RESULTS
12
New & Retained Jobs
$3M
New & Retained Sales
$3,375
Cost Savings
$12,375
New Investments
