How to choose the right fastener partner i'#':ri#t'"'

GIOME retailers think servicing tbe 9fastener aisle is a lot like junping out of a plane without a parachute painful and messy! For the unin- formed, the job can be intimidating, frustrating, humbling and downright scary. Like Rodrry Dangerfiel( fasteners sometimes get no respecl.

That's until retailers learn how profitable fasteners ac. They arc one of the major profit centers in most outlets. The good news is that retailers who parher with the right fastener supplier can easily maximize sales and profits without having !o service the fastener aisle themselves.

Due to the profit potential for fas' t€ners, wise retailers carefully evaluate available suppliers using four criteria These are: r/ Packaging y' Mochandising y' Service y' Technology/Automation

Tbe right fastener packaging is the key for retailers because it moves product. Because the objectives are to increase sales and profits with minimum time and resource investment, packaging should do everything it can to make a consume/s buying decision easier.

Color-coded, easy-to-read packaging will quickly direct the consumer to select the right fastener for each job. Regardless of the Project, the right packaging can help determine how much of each Product he needs to buy and exactly how to use different fasteners.

Fasteners should be available to retailers in both blister pack and poly- bag packaging options as well as contracor-grade. This allows a retailer to cater to his full customer base. Supplien who are flexible and offer all the options give retailers an advantage. An easy buying decision and solid packaging options lead to multiple purchases and increased customer satisfaction. Customer satisfaction ultimately leads to increased sales.

In conjunction with Packaging, quality merchandising is critical to increased volume. When Packaging and merchandising blend together and complement one another, theY are extremely effective.

A 44 foot departrrent with a wide variety of scramble colors and uncoordinated graphics is confusing and unfriendly. An inefficient use of time and space does nothing to increase sales.

On the other hand, color-coordinated signage, merchandising aids and graphic displays, along with application-oriented, shelf-mounted "nose pieces" will nrake a mediocre department great.

No retailer wants to service the fastener department. We all know that. Consequently, retailers should align themselves with a vendor who provides the following in-store, fullservice functions: r' Order writing r' Order check-in r' order stocking r/ Display maintenance & cleaning y' Productlnowledge and raining

/ Dinect ship capability

When full, in-store service occurs on a weekly or biweekly basis, a retailer's sales, profits and turns increase. In fact, most retqilers recognizn, a 30Vo increase when implementing a vendor-managed inventory (VMD concept that maximizes productivity and efficiency. VMI focuses on a quick response cycle that maximizes sales when ninimizing overstock and out-of-stock inventory.

The following graphics highlight the "turn" impact of a full-service, vendor-managed inventory program: vendors is able to offer him the following: y' 48-hour order turnaround

3/ucc-rz8 y' Advane, ship notification e/ WI y'Pegman y' Frctory automation y' Multiple packaging options y' Paying invoices via electronic fund transfer (EFI)

BUILDERS SQUARE faslener c€nter has 12 micro departmenls, such as Power Drive, Andror All and Grabber, to take the guesswork oul of faslener seleclion and give the consumer a sense of accomplishment and satisfaction.

Story at a Glance

Ways to make the fastener aisle one of the most profitable in your store tips on selecting a supplier ... criteria for judging vendor serYices.

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A "no" answer to any of the above may mean a retailer is not aligned with the best supplier available. For exarnple, significant cost reductions can be achieved by taking advantage of UCC-128. With the use of a scanning device similar to those used in bar coding, order check-in takes minutes compared to hours with previous methods. This time savings occurs because you're inventorying pallets of goods all at one time, rather than individual boxes or items. Store employees can be on the floor selling instead of wasting time in the back checking in orders.

Many suppliers can provide fastener variety, but the fastener partnef that can give state-of-the-art packaging, coordinated merchandising, full, instore service and sophisticated technology support is the one to choose.

Using a Direct-ship, Fully-serviced, VMI (Vendor Managed lnventory) Program.

Optimal 44' Fastener Aisle

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In evaluating this fourth and final criteria of supplier selection, a retailer should ask himself if his choice of

Serving the fastener aisle can be rewarding in terms of return on investment. It doesn't have to be scary. Having the right fastener supplier is as wise as choosing a topquality parachute that's fully loaded.

Doug Copley has over eight years experience in tlw do-it-yourself aad constrtrction srEp$ markets. Previousty with Black @rd Declccr, lle was respowhlc for major account sales at VSI Fasteners beforc being nanted director of marlceting. - Editor