5 Steps to Successfully Switch Fastener Suppliers

Switching fastener suppliers can be complex, yet with the right partner it can become an opportunity for significant improvement to your business.

In our latest Optimas Toolbox Talks podcast, contributors Brandi Olson (Business Operations Project Manager, US), Chris Collins (Operations Support Manager, UK), Cory Polk (Senior Manager, New Business Implementation, US), Nigel Bland (Operations Manager, UK) and Stuart Katz (Marketing Director, US) have compiled five key points from recognizing the signs that it’s time to change fastener suppliers to how you can implement a structured transition plan using best practices.

Cory Polk

Senior Manager, New Business Implementation

Brandi Olson

Business Operations Project Manager

Nigel Bland

Operations Manager

Chris Collins

Operations Support Manager

Stuart Katz

Marketing Director

Grab a quick segment of the latest podcast episode below to get a feel for the discussion, or dive in and listen to the full podcast here.

1. Recognizing the Signs to Change

“There are a lot of commonalities that result in manufacturers considering changing fastener suppliers. One of which is quality issues which may have been causing disruptions to their supply chain or day-to-day operations,” said Polk.

There are a number of key indicators that signal it’s time to consider a new fastener supplier. From the quality of the fasteners causing product failures or not receiving enough support to achieve optimal inventory levels. These are all indicators you should seriously consider alongside your business’ long-term goals to see how the right fastener supplier can help you achieve your goals.

2. How to Prepare for a New Supplier

Creating a comprehensive review of your fastener usage, that could include sizes, types, materials, seasonal fluctuations, volumes, etc. is fundamental to ensure a successful supply and that another supplier can provide the service you require.

“Understanding your program parts and usage is key to understanding what could be impacted by a transition between fastener suppliers. Knowing this will enable you to communicate to a new supplier what inventory levels you will require to ensure production doesn’t halt during the early stages of your new partnership,” said Polk.

Olson added saying, “even down to granular aspects such as walking the lines and understanding how those parts are used and where the usage points are is really important to ensure there is full transparency between the shopfloor and a potential new fastener supplier.”

Simplified Steps for Seamless Supplier Transitions

Optimas is a full-service partner that can simplify the transition process and set you up for long-term success. Within our guide, we break down the implementation process, empowering you to:

• Recognize the need for change
• Strategize to minimize disruption
• Select the right partner
• Implement your transition plan

DOWNLOAD HERE

3. Selecting the Right Partner

Polk continued saying, ‘for me, localized support is certainly an aspect you should look for when selecting a new fastener supplier. If you can find a partner who can support your needs geographically with their strong market presence, that is a big tick in the box.”

Collins jumped in saying, “One point I would add would be that you need to make sure a new fastener supplier should be transparent and communicate to all levels of your business, from senior management to shop floor. This will help make sure that everyone involved with your fasteners from start to finish are all on the same page.”

Your new fastener supplier should have strong distribution capabilities, a commitment to quality and innovation and ideally robust manufacturing capabilities as well.

Optimas’ in-house capabilities such as manufacturing in the United Kingdom, United States and soon to be Mexico, enables us to maintain a continuous supply of parts that also mitigates the risk of supply chain disruptions.

4. Create a Transition Plan

Another important consideration is to map out key timelines for the transition. This may include deadlines for inventory audits, data integration, first deliveries, in-plant bin/rack installations and inventory management technology implementation. Setting clear milestones helps track progress and ensures all parties are aligned on expectations.

“A transition plan is essential to ensure a smooth and profitable transition,” said Polk.

“Within the plan, the early stages could contain site assessments and ensure there is a fact-finding element incorporated into the transition to enable the new fastener supplier to learn and understand your operations. This will help them create the custom solutions you need from them to contribute to your business achieving its long-term goals.

“It should also feature details on how the custom inventory infrastructure is deployed in your facilities to ensure your production doesn’t come to a standstill.”

5. Ensure Success After the Transition

After the transition is complete, conduct a post-implementation review to assess its successes and identify areas for improvement. Reviewing the transition objectives against the results with key stakeholders from both parties is a good way of gaining insight into your new fastener supplier.

“Feedback is important to enable your new fastener supplier to gauge what tweaks you need from them after the initial transition. As a result, your new partner should be able to see if they can enhance your operations efficiency even more following the initial results of the switch,” said Bland.

Optimas is a leading global distributor and manufacturer of fasteners and C-Class components, which also provides customers with full-service solutions. Even the smallest parts can make a big impact on your business. That’s why we’re focused on finding you the solutions that improve your efficiency and drive profitable growth across your enterprise.

If you’d like to ask any questions to any of the members of the podcast, please contact us here to carry on with our discussion or to get across any queries you have to one of our experts.

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