Identify. Collaborate. Improve. Fastenal’s Lean Solutions team is dedicated to helping you create process efficiency within your supply chain. Our approach, based on the principles of lean manufacturing, begins by uncovering hidden sources of waste through Total Cost of Ownership (TCO) analysis. COSTS TCO ANALYSIS TIMEFRAME TCO analysis is a detailed analysis of your business with three basic goals: 1. Gaining a better understanding of your goals and business needs 2. Quantifying your total cost of ownership and identifying potential savings 3. Collecting information to provide custom solutions based on industry best practices Our Lean Solutions team members extend their time and expertise to you at no charge. The only cost involved is your time. PEOPLE We bring Lean Six Sigma Black Belts and internally trained Blue Belts. You bring decision-makers with a business ownership mindset, employees with knowledge of inventory costing and non-value added spend, and stakeholders committed to continual improvement. A typical TCO analysis event requires a 1-2 day time investment. In addition, we’ll ask for some pre-planning data collection and 20-40 minutes with selected department leaders to better understand in-depth business processes that contribute to supply chain efficiency. RESULTS 10-20% In addition to the 10-20% savings you’re likely to realize as a result of the TCO analysis and proposed solutions, you’ll also leave the event with increased visibility of product flow and common sources of waste within your supply chain, both powerful contributors to overall productivity.
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