Sometimes more is better – like more vacation time, more dessert and more knowledge. But more suppliers? That’s not always a great deal when sourcing fasteners.
You could argue it reduces risk and provides better flexibility, and while that may prove true in some instances, using multiple suppliers for your fasteners has disadvantages. Perhaps most notably, you’ll spend more time managing more supplier relationships.
The reality is that using different vendors typically results in significantly more paperwork -- not just with invoices but also with material test reports, tracking and shipping details. Different methods of delivering this information vary from vendor to vendor. When you’re on a job site, backtracking and remembering where you bought each fastener can be confusing.
Your best bet is to find one fastener supply partner that can deliver everything you need to keep projects moving. The benefits of using one supplier for fasteners include:
Stronger Relationships
You’ll foster a deeper connection with the people at your supplier, which often leads to better communication, problem-solving and overall collaboration. Over time, their team should gain a deeper understanding of your business and the industries you work in.
The best supplier relationships go beyond placing orders and receiving products. Your fastener supplier should be asking you questions, proactively providing solutions and serving as an extension of your business.
Cost Savings
Volume discounts, reduced negotiation time and consolidated logistics can lead to significant cost savings. But it’s important to view cost savings with a wider lens and not become too focused on the price of each product.
Perhaps you could save 5% on a bolt by using a different supplier. Should you switch suppliers for that product? You’d need to weigh other factors like lead time, quality and dependability to make an informed decision on the true cost savings.
Simplified Processes
A single supplier helps streamline procurement, inventory management and quality control processes. Time is valuable, and your life becomes easier with one point of contact for purchasing fasteners.
Working with one supplier means consolidated billing, daily/weekly/monthly updates and a centralized contact for all your bolt needs. The result? Fewer logistical headaches and more time to give attention to other key parts of your business.
Stronger Inventory Management
A supply partner that’s committed to serving you will understand your inventory across all locations. This might involve physically going on site to identify existing stock and usage patterns.
Leveraging a vendor-managed inventory (VMI) solution might make sense if you have stable demand for products and a predictable production schedule. Having your supplier monitor stock levels and replenish inventory as needed ensures you’re working together to achieve mutual goals.
Quality and Consistency
Using multiple suppliers introduces more variability and unpredictability in quality, delivery and other areas. Issues such as stockouts, delays and faulty fasteners can stall projects as well as damage your reputation with customers.
Trust is the foundation of any strategic partnership. You’re more likely to build that trust when you have one supplier that you can count on for high-quality products and tailored solutions.
Partner with a one-stop fastener manufacturer and distributor to lock down your supply. Request a quote from Birmingham Fastener to get your fasteners faster and stay on schedule.
10/29/2024
