Value stream mapping is a method of lean management that allows you to visualize your supply chain on a granular level. Birmingham Fastener Managed Inventory (BFMI) uses value stream mapping to spot inefficiencies in your Class C component supply chain and determine the best strategies to decrease waste, lower inventory costs and optimize operations.
How BFMI Leverages Value Stream Mapping
BFMI aims to provide greater insight into your supply chain through value stream mapping and help you develop more efficient management strategies. Creating a value stream map allows us to view every aspect of production at a high level to identify wasteful or unorganized practices in your production process. Value stream mapping allows us to:
- Identify issues with material flow and inventory management
- Determine whether there are issues in communication flow
- Diagnose problems to maximize uptime and improve lead time
Once we’ve identified any inefficiencies, BFMI recommends strategies to fit your supply chain. Our experts present actionable data and work with you to improve your operation. We can also recommend other tools, plans and partnerships to streamline your production process. Leveraging a vendor managed inventory (VMI) partner like BFMI not only helps you improve your supply chain, but can create a lasting partnership with your company to streamline procurement and avoid stock outs on your C Class components.
Effecting Change in Your Operations
Diagnosis is one thing; implementation is another. Some companies can identify problems in their supply chain and still lack the tools to implement change. Having a value stream mapping partner like BFMI not only provides insight into problems, but also equips you with the knowledge and expertise to fix issues and effect change.
Leveraging supply chain experts like BFMI provides a measurable return on investment (ROI). Companies can compare value stream maps months down the road to measure the effectiveness of changes. Companies can also expect to see a positive change in their total cost of ownership (TCO), due to the ability to make data-driven decisions to improve operations.
Because your business is ever-evolving, it’s important to routinely measure your operations to gauge success. You may discover some areas have majorly improved, while other areas may still need some tweaking. Having a partner like BFMI monitoring the success of your operation ensures you always have someone in your corner to help you succeed.
To learn more about how you can improve your operations with BFMI’s value stream mapping, contact us today!