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FALL 2012

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  • Fastener
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  • Industrial
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  • Bolt
  • Screws
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  • Metric
Distributor's Link Magazine Fall Issue 2012 / VOL 35 / NO.4

26 THE DISTRIBUTOR’S

26 THE DISTRIBUTOR’S LINK Dennis R. Cowhey Dennis, R. Cowhey, started Computer Insights, Inc. in 1981 as is currently CEO. He served for many years on the Illinois CPA Society Computer Information Systems Committee. He is a frequent author of articles for Industry Trade Magazines. Before starting Computer Insights, he served as Central District Manager for a division of Litton Industries (now part of Northup Grumman). That company offered Inventory Control Systems to Retailers. Prior to that, he was a Credit and Financial Analyst for National Credit Office division of Dun & Bradstreet, Inc. He received his education at Chicago City College and DePaul University. TECHNOLOGY HELPS WITH INVENTORY MANAGEMENT Fasteners are Difficult to Manage Fastener inventory is one of the most difficult types of inventory to maintain. When we chose the fastener industry as our specialty, this was one of the main reasons. Fastener inventory is unique: 1. Many products are commodity products and need to be sent to several vendors for quote. 2. Some items are branded products and can only be purchased from one vendor. These need to be purchased directly without a request for quote. 3. Still other items require kitting or processing in order to be sold. These require a processing purchase order that creates demand for the components. 4. Components need to be requested for quote or ordered. 5. Many common products appear in multiple bills of material so potential shortages are easily missed. 6. Blanket orders are common and can often stretch out a year or more. creep in and mistakes can be costly. This is an industry where you can easily turn a order into a 0 mistake. Make that kind of mistake once too often and you will lose your customer. Even the Part Numbers are a Problem Fasteners have more part numbers than centipedes have legs. A fastener could have any or all of the following: 1. A nomenclature part number 2. Several vendor part numbers 3. Several customer part numbers 4. A UPC code 5. Customer purchase order or purchase order line numbers or both 6. Customer end user package part numbers 7. Other miscellaneous part numbers, e.g. catalog numbers, sale numbers, etc. And That’s Not All Our clients often have as many as 100,000 products or more in inventory. The products look very similar and the part numbers are descriptive, so they are long and tedious to work with. Using purchasing reports for making buying decisions is problematic. By the time the purchasing agent gets through the entire report, many things have already changed because of the hectic pace of the business. Errors and omissions can easily Automatic Replenishment to the Rescue When it comes to inventory management, The BUSINESS EDGE 2.0 has the easiest to use and most sophisticated automatic replenishment system available for fastener companies. It is deceptively simple, yet it is remarkably comprehensive and it takes into account all of the nuances of handling fasteners. It saves many hours for the Purchasing Department and it virtually eliminates costly errors. please turn to page 206

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