Production and manufacturing projects can quickly come to a grinding halt without the materials you need. It’s why having a reliable fastener supply is essential to minimizing disruptions, satisfying customers and completing work on time.
While it’s easy to envision supply chains as linear and straightforward (picture a chain link fence), they’re often complex and multi-layered (imagine a web of stakeholders with crisscrossing lines). Seemingly small disruptions can trigger big problems.
You don’t control all the external forces that fuel supply chain disruptions – such as natural disasters, geopolitical events and health crises like the COVID pandemic – but you can take steps to mitigate risks. Use these tips to help avoid fastener supply chain breakdowns:
1) Leverage Reshoring to Your Advantage
Purchasing fasteners domestically means you’re less vulnerable to global supply chain blockages. You also shorten lead times, making it easier to respond to changing market demands while improving operational efficiency.
2) Look for Strategic Distribution Locations
Having coast-to-coast access is critical to reduce shipping times and eliminate project delays. Use suppliers that have strategic locations across the U.S. so you’re well stocked with fasteners.
3) Choose a One-Stop Solution
More isn’t always better when it comes to your supply chain. Consolidating purchasing orders saves you time and stress over dealing with multiple vendors, so prioritize suppliers that offer a diverse catalog of fasteners.
4) Analyze Your Inventory Levels
Strike the right balance so you’re maintaining enough safety stock to buffer against unexpected shortages or delays without storing so much inventory that it’s eating into your profits. Regularly analyze inventory levels so you’re improving processes and creating efficiencies.
5) Consider Vendor-Managed Inventory (VMI)
VMI can be a great supply chain solution, especially for large and medium-sized original equipment manufacturers (OEMs). A VMI partner manages inventory levels for you to lower costs, improve turnaround times and streamline resources.
6) Build a Strong Relationship With Suppliers
A supplier shouldn’t feel like just a vendor – you want a true partnership built on open and honest communication. This is the key to strong, mutually beneficial relationships. Make sure you’re regularly talking with suppliers about your business needs and goals.
7) Demand the Highest Quality Standards
Faulty fasteners can wreak havoc on your operations. Don’t risk having to make time-consuming repairs or immediately reorder supplies. Ensure you receive quality parts by choosing a partner with an in-house lab that conducts tests on products.
8) Seek Custom Manufacturing Options
Be prepared with the necessary supply to quickly take on any project. Partners that provide made-to-order parts and specialized product development empower you to maximize uptime. Ask about order minimums so you’re only paying for what you need.
Take Control of Your Supply Chain
A strong supply chain is the backbone of the best manufacturing businesses. Don’t overlook the important role it plays in giving you a competitive advantage in a crowded marketplace.
Keep work moving forward with Birmingham Fastener’s fully integrated manufacturing and distribution services. Let’s talk about how we can help tighten up your supply chain.
05/13/2020
