The global fastener market is seeing exponential growth by the day, and more and more suppliers are entering the market looking to establish a name.
Some suppliers have connections globally and can be strategic partners for you, while others may have a little more than an excellent website. So, the support you receive from them varies significantly. That’s why you should make essential considerations before selecting a fastener supplier.
- Look for Important Services
Industrial fasteners suppliers must have the agility and flexibility with services to meet your needs. A reliable fastener supply company should offer programs such as Vendor Managed Inventory (VMI) or consignment inventory. They should also offer blanket purchase orders.
Additionally, make sure your supplier has flexible logistics and an optimized supply chain, so you receive an On-Time Delivery (OTD) service, even if supply is high or freight shipping costs rise. Suppliers who work with application engineers can also serve as a resource if you need component performance recommendations.
- Vet for Quality
What makes a reputable supplier stand out from others is a Quality Management System or QMS. QMS is crucial to managing processes that integrate supply chain inspection. Their QMS should also be certified through IATF or ISO. They should use statistical process control as well.
The method through which a supplier conducts supply chain risk assessments and reduces them should also be vetted.
- Procuring and Sourcing
To prevent your fastener supply from hitting a break, you need a supplier who invests in your fastener procuring pipeline. This might be easy for common fasteners such as bolts and screws, but it can be difficult if you have set custom requirements or need to meet certain international certification standards.
Talk this through with your supplier beforehand and pick someone who has immediate access to multiple manufacturers that can source various standards of fasteners.
- Long-Term Investment Plan
The last thing to look for is a long-term partnership. Prioritize suppliers looking to build a lasting business relationship so you don’t have trouble procuring the right products in the future. Suppliers invested in long-term partnerships are also strategic for your business.
