Most fasteners are small but play a huge role in keeping products together. Having the right fasteners in the right place at the right time is key to making sure production lines and projects keep moving.
Sourcing fasteners is more complicated than it may seem on the surface. You have a dizzying number of choices (both in materials and suppliers), fluctuating prices and lead time variabilities to consider.
Streamlining your sourcing process does more than save you money and time – it also helps you develop stronger relationships with suppliers. This often translates to receiving higher quality parts and custom solutions for your unique needs.
Use these best practices to make the entire fastener purchasing experience simpler:
Understand the Right Fasteners to Use
With thousands of fasteners to choose from, you’ve got options – and it can feel like too many. Knowing the factors that go into determining the ideal fasteners for projects and applications helps you narrow your search.
Important factors to consider include:
- Strength and performance
- Material and finish
- Shape and size
- Environmental conditions
A good fastener supplier will work closely with you to ensure you’re sourcing the appropriate materials. They’ll take a big-picture focus while asking questions about your needs so that you’re confident in every purchase.
Consolidate Suppliers
Having more suppliers means more invoices to track, more risks to assess and more relationships to manage. What does that all up to? More work for you.
Simplify sourcing by selecting a single partner for all your fasteners and components. That means finding a supplier with a vast inventory of high-quality fasteners and the ability to provide fast turnarounds to meet tight deadlines.
Leverage Vendor-Managed Inventory (VMI)
Managing your inventory is typically a time- and labor-intensive task for businesses. It’s why VMI is so appealing and, when done right, can save you a lot of stress.
VMI programs offer a comprehensive inventory management system to maximize your supply chain. You can right-size your inventory and secure the right products when needed.
Streamline your supply chain with VMI services such as:
- Dock-to-dock stocking programs
- Point-of-use stocking programs
- Logistics management
- Just-in-time deliveries
- 3PL material management
Use Kitting and Assembly Programs
Do your nuts and bolts have to be packed and labeled in a specific manner? Are custom container sizes critical to your success? Look for a supplier that provides fully customizable services for packing and assembling.
Such programs expedite production and get you parts designed for your company’s specific requirements. Especially for organizations that have products with multiple components, it’s a smart way to lean into specialized expertise, prevent defects and ensure consistency.
Develop Contingency Plans
Ideally, all the fasteners you need would always be in stock and arrive on time. The reality is that you’ll have to navigate stockouts, shipping delays and other issues. Some disruptions are out of your control – and the same holds true for your supplier.
Mitigate sourcing risks by preparing for unexpected interruptions. Work with your supplier to explore alternatives if your preferred fastener has low stock or long lead times. It’s also helpful to have a supplier with multiple distribution centers and a diverse geographic footprint to broaden your access to products.
Simplify the Complexities of Purchasing Fasteners
Sourcing fasteners may never be as straightforward as you’d like, but it doesn’t have to be a headache. Choosing the right supply partner and planning ahead go a long way toward a streamlined sourcing solution.
Tighten up your supply chain with a one-stop fastener partner that has coast-to-coast locations. Let’s talk about your inventory needs and how Birmingham Fastener can help.
08/7/2019
