Managing & Tracking Vendor Managed inventory – Because many end-users do not have the time or resources to manage c-class items like fasteners, they rely on their distributors to stock bins and/or replenish product. Fastener distributors sell anything that fastens something to something else – i.e., nuts, bolts, staples, screws, nails, grommets, snaps, retaining rings and plastic twist-ties.

 

Infor’s ERP FACTS Functionality

• Tracking Secondary Processes -- Many fastener distributors will buy standard fasteners, and then send them to a plater to have them plated with something like zinc for special applications.   When a distributor completes these processes, he must track the movement of the products and all of the associated costs to ensure the gross margin is correct.   Many fastener distributors also have a secondary quality control process, during which they test samples from each lot of product. They must monitor the results of the testing and keep detailed records, so they can refer back to the test if a customer reports an issue with something in a certain lot
  • Track multi-stage, secondary processes like plating and rework.
  • Start tracking these processes automatically, upon receipt of material
  • Also have the option of starting secondary processes manually.     
• Tracking Lot Bin Integration and Control – If a customer reports that a piece of a lot is defective, a distributor most likely will pull a piece of the same Lot form inventory and test again. If it is not compliant, they must be able to find every customer that has ever purchased product from that Lot in a quick and efficient manor.
  • Exceptional Lot/Bin integration and control capabilities help keep track of where inventory came from, where it is now, and where it is going.
• Managing Landed Costs – Many fastener distributors import product and must track all costs involved – like duties, taxes, freights, and broker chargers – so they can recoup their expenses in extended costs.
  • Automatically tracks every cost involved in importing product,  from foreign and domestic port charges to freight costs, helping keep the distributors profitable and ensure accurate costing.
• Managing Inventory On Water – When fastener distributors import product, they must track certain things like where it is (i.e., on the water or in the port) and when to expect it in their warehouse.
  • Manage stock while it is on the water by allowing receipt into inventory without actually putting it into the stockroom.
  • When inventory arrives on shore, customer service representatives see the availability for sale.
• Adapting to Varying Units of Measure – Fastener distributors might buy product by the keg and sell them by the ounce or each. Therefore, to manage inventory, their solution must convert quantities.
  • Item measurements are flexible and user defined.
  • Assign SKU an unlimited number of units of measure.
  • Helps to efficiently manage and better understand inventory levels – all while communicating more effectively with vendors and customers
• Storing Multiple Item Detail – Many fasteners have five to ten features that must be monitored and communicated to customers.
  • Store an unlimited number of specific details with each SKU
  • Better equip sales representatives to help customers from the Order Entry module.
• Searching for Order History and Previous Requests – Distributors’ customers often buy the same pieces (customized and non-customized) over and over again.
  • Search through a customer’s complete sales history by self determined criteria – narrow sales history search by date range or keywords.
  • Saves sales – and eliminates trips to the file cabinet to thumb through customer invoices.
• Managing & Tracking Vendor Managed inventory – Because many end-users do not have the time or resources to manage c-class items like fasteners, they rely on their distributors to stock bins and/or replenish product.
  • Ability to manage any customer’s inventory either through consignment or bin.
  • Scheduled blanket releases.
  • Track what inventory is with which customer
  • Monitor usage trends to determine how much stock to carry to satisfy needs
  • Personal digital assistant (PDA) technology makes it quick and easy to replenish stock at customer locations.
• PDA scan-and-validate technology -- cuts the errors associated with jotting down SKUs manually, while improving customer service by speeding counting processes and improving accuracyFastener Distributor Profile

Fastener distributors fall into many categories including:

 

• Original Equipment Manufacturer (OEM) and Maintenance Repair and Operations (MRO) industrial fastener distributors:   These distributors sell primarily to industrial manufacturers, and can be further broken down by industry, such as those who sell fasteners to automotive, electronic, aerospace, and general manufacturers.   When the product is sold to an OEM, it means the fasteners is being used in the product itself (i.e., a screw being used to hold the cover on a Palm Pilot).   When the product is sold to a MRO, the fastener is being sold to help maintain the equipment used in the manufacturing process (i.e., a screw that holds the cover on a Drill Press).
• Packaging houses: Distributors who buy in bulk and repackage for sale to contractors and for end-user retail locations
• Importers:   Distributors who import product from overseas manufacturers
  • Require container tracking and the ability to determine and apply landed costs
• Fastener Manufacturers: Manufacturers who also distribute their products
  • Require manufacturing functionality, including multi-stage and secondary processing, and product order (and/or kitting) functionality
• Master Fastener Distributors: This type of distributor is usually a member of Specialty Tool and Fastener Distributor Association (STAFDA), and markets and sells a combination of tools and fasteners to contractors in the building and construction industries.   Their primary customers are contractors
  • Typically handle more counter and walk-up sales than industrial fastener distributors, and need functionality to handle this

*One fastener distributor may fall into many of the above profiles or just one.

 
Industry Terms

 

• Certification: The procedure and action by a duly authorized body of determining, verifying, and attesting in writing to the qualifications of personnel, processes, procedures, or items in accordance with applicable requirements.   Note: The term “a duly authorized body” may reflect a formal designation of a first-party body (e.g. – producer or supplier) or third-party body (e.g. – an independent agency or individual selected by the first and/or the second party/purchaser/user) in compliance with some contract or regulation, or a functional assignment by a first party under normal operation procedures.
• Compliance: An affirmative indication or judgment that the supplier of a product or service has met the requirements of the relevant specifications, contract or regulation; also the state of meeting requirements. Note: As used in certain contract applications, compliance refers to delivery of contract items, whereas conformance refers to a manufacturing or distribution stage.   As indicated, quality terms such as “facility”, “system”, “component”, etc. may be substituted for product or service if more appropriate.
• Certificate of compliance:   A document signed by an authorized party affirming that the supplier of a product or service has met the requirements of the relevant specifications, contract or regulation.   Note: Compliance can pertain to a broad spectrum of requirements, which may include procedural, conformance, timely delivery, reliability or other elements.
• Conformance:   An affirmative indication or judgment that a product or service has met the requirement of the relevant specifications, contract or regulation; also the state of meeting the requirements. Note: In quality control usage, conformance customarily refers to an assessment not dependent on the passage of time in product use, as contrasted to reliability, which has a time connotation.
• Certificate of conformance (certificate of conformity):   A document signed by an authorized party affirming that a product or service has met the requirements of the relevant specifications, contract or regulation.
• Conformity:   The fulfilling by an item or service of specification requirements.
• Lot, tolerance percent defective (LTPD):   Expressed in percent defective, the poorest quality in an individual lot that should be acceptable.
• Plating:   The application of a metallic deposit on the surface of the fastener by electrolysis, impact or other suitable means.
• Plating build up:   The term used to describe the disposition of more plating on edges or corners than on the other surfaces of the fastener.
• Quality assurance:   A system of activities whose purpose is to provide assurance that the overall quality control job is being completed effectively; the system involves a continuing evaluation of the overall quality control program (see quality control) with a view to having corrective measures initiated where necessary.  
• Quality Control:   The overall system of activities whose purpose is to provide a quality of product or service that meets the needs of users; also, the use of such a system; the aim of quality control is to provide quality that is satisfactory, adequate, dependable and economic.   The overall system involves integrating the quality aspects of several related steps, including: The proper specification of what is wanted, production to meet the full intent of the specification, inspection to determine whether the resulting product or service is in accordance with the specification and review of usage to provide for revision of specification.
• Random sampling:   As commonly used in acceptance sampling theory, the process of selecting sample units in such a manner that all units under consideration have the same probability of being selected.
• Surface Heat Treatment:   A process that improves the hardness or other mechanical property of the fastener in any surface area.

 
Common Units of Measure

 

Keg                              Pieces                           Box

Pallet                            ¼ Keg                          Carton

Major Product Groups

Anchors                       Bolts                             Pins

Inserts                          Nuts                             Studs

Rivets                           Screws                          Rings: Retaining

Fasteners Aerospace    Cold Headed Parts      Washers

 

 

     

 

Infor’s ERP FACTS has Customer Overviews available on the following distributors:

• International Fasteners ( Tampa, Florida)
• Fastening Specialist ( Orlando Florida)
• Over 200 other fastening distributors in the US run Infor’s ERP FACTS available upon request.

 

Associations and Tradeshows:

 

• American Association of Fastener Importers
• Midwest Nut, Bolt, & Screw Association – Chicago Fastener Show – www.cbnsa.com
• Fastener Industry Coalition – www.nfda-fastener.org
• Los Angeles Fasteners Association – www.lafa.net
• Metropolitan Fastener Distributors Association – www.mfda-fastener.org
• National Fastener Distributors Association -- www.nfda-fastener.org  
• Southeastern Fastener Association – SEFA Spring Meeting & Table Top Show   -- www.thesefa.com  
• Specialty Tools and Fasteners Distributors Association – STAFDA Convention – www.stfda.org
• The National Industrial Fastener Show East – http://www.fastenershow.com/  

Educational Group

 

Industrial Fasteners Institute: www.industrial-fasteners.org – Manufacturer and manufacturer supplier group dedicated to advance the technology and application engineering of fasteners and formed parts through planned programs of research and education.

 

 

Publications

• American Fastener Journal (6 issues/year) www.fastenerjournal.com – for distributors; focuses on everything from technology to new products to industry news.
• Distributors Link (4 issues/year) www.linkmagazine.com – for distributors; focuses on everything from technology to new products to industry news.
• Fastener and Fixing Europe (6 issues/year) www.fastfair.net
• Fastener Focus (4 issues/year) www.fastenertech.com – for distributors
• Fastener Industry News (18 issues/year online) www.fastenernews.com -- for distributors and manufacturers; focuses on industry news.
• Fastener Technology International (6 issues/year) www.fastenertech.com -- for distributors and manufacturers; focuses on everything from technology to new products to industry news
  Publications

Learn more about ERP fastener distributor solutions from DPI and Infor's FACTS :  view a demo of ERP FACTS for Fastener Distributors.

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DPI Information Services solutions are built on a standard platform that’s easy to customize to your particular business needs. DPI Information Services, an Authorized Infor Channel Partner, will work closely with you to make sure you get a solution that fits your way of doing business. For more information about how DPI Information Services can help you become a World-Class Distributor contact us here.