Experts in Fasteners

Excellence in Service

Vendor Managed Inventory Programs

Vendor Managed Inventory programs cut costs

Studies have shown that 85% of fastener costs are related to inventory overhead activities, while just 15% is the actual cost of the item.

Not all programs are the same

Electronic Fasteners Delivery TruckElectronic Fasteners, Inc. (EFI) is committed to delivering programs that work for you. Our Fastener Management Program (FMP) has become the fastest growing segment of the business; in fact, these programs currently account for over half of EFI’s current annual sales.

The reason for this growth is simple: our programs deliver a dramatic reduction in the overall cost, and hassle, of procuring and managing fasteners. As one customer put it:

“The service level provided by Electronic Fasteners has been excellent. They have helped to reduce costs through the managed inventory program and their employees are always willing to do whatever it takes to fulfill our product needs.”
Bill, Senior Buyer, GSI Group, Inc.

 

The benefits of choosing an EFI program

  • Inventory ManagementOur programs are managed by a separate Fastener Management Program (FMP) Department. The Department is staffed with full-time, dedicated FMP Specialists.
  • Stocking plans are economically optimized to your level of inventory requirement, based on your record of cyclic usage.
  • Stocking methodology is tailored to your specific work environment. If our multi-bag, min/max or Kanban system won’t work for you, we’ll devise a system for you that will.
  • We do all the ordering. Fasteners in your FMP are stocked at our warehouse and are available when you need them.
  • We'll review, advise, and set up your bin system as necessary, and bar code all bin stocking locations for you.
  • At your option, we’ll stock the bins for you, or ship items with the appropriate labeling for you to re-stock with.
  • We maintain a fleet of FMP delivery vehicles to ensure regularly scheduled and dependable deliveries.
  • Free services are included, such as bin set-up and emergency services.
  • Non-fastener supplies, if you wish, can be included in your FMP program.


Fastener Management Department

Scott Farnham, who has over twenty years of inventory management experience in the manufacturing industry, heads EFI’s FMP Department. Scott says:

Electronic Fasteners Bins“We never simply “fill up your bins”. We’ll recommend the bag and bin quantities necessary to give you enough parts in stock to ensure you won’t run out, yet are not overstocked.  Once we have agreed on the appropriate bag and bin quantities for an item, we’ll never vary from these quantities without authorization. You retain control of your fastener inventory levels.”