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SUMMER 2018

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Distributor's Link Magazine Summer 2018 / Vol 41 No3

146 THE DISTRIBUTOR’S

146 THE DISTRIBUTOR’S LINK GLOBALFASTENERNEWS.COM SFA PANEL: U.S. TARIFFS HIKING STEEL PRICES from page 70 ¤ Baron Yarborough of Spring Bolt & Nut Manufacturing mentioned the fast growth of online ordering. It wasn’t many years ago when his predecessor, Tim Malone, told him he doesn’t need emails because orders come in over the fax machine. ¤ Acquisitions will continue to be a part of fastener life. Davis said the “easiest way to beat the competition may be to buy them.” Recalling the ‘Mom & Pop’ history of the industry, Davis advised distributors ”we just have to pivot” to stay in business. An advantage of consolidation is that “the fear of consolidation should make us better.” Dyer noted that some smaller companies that are not doing well may be improved by acquisition. Longyear noted not just companies have been changed by acquisitions. Associations feel the difference too. Longyear, a longtime SFA board leader, recalled there were more than 100 distribution companies a generation ago. “People who remain independent want to be,” Longyear noted. “They’ve had offers.” ¤ There is still a role for personal sales, the panelists agreed. “People still buy from people,” Dyer observed, though she acknowledged the Internet and other factors are decreasing “brand loyalty.” “I’m a business relations guy,” Davis declared. “Get in front of people and build relationships.” By getting out to industry events, “You can get great connections,” Yarborough said. ¤ Today’s biggest challenge is “educating those new to the industry,” Dyer said. She advocated sending new employees to Fastener Training Institute courses. Taking FTI courses “opened my eyes as to what fasteners are.” Before they were just products in boxes, she acknowledged. Have new employees go see manufacturing and plating facilities so they understand fasteners, Dyer urged. In calling for more training, Davis said he finds many fastener “buyers know only part numbers.” Associations need to take new roles in providing training, he added. “How many people go to college to sell bolts and nuts?” Longyear asked. A broader discipline of “industrial distribution” is what they are studying. You and your staff people need to “ask questions and listen to the answers,” Davis advised. Longyear agreed and recalled Metric & Multistandard started him in the warehouse to learn actual parts. Though the panelists were talking about industry changes, Longyear observed that for all that has changed, the majority of products he handles are identical to when he entered the fastener industry in 1972. For information contact SFA executive director John Elsner. Tel: 713 952-5472 Email: swfa@swbell.net Web: sfa-fastener.org SFA Panelists & Their Companies John Longyear started in the fastener industry with Metric & Multistandard Components Corp. in New York in 1972. He was transferred to Texas in 1976 to open a branch in Dallas and been with Metric & MultiStandard his entire career. Metric & Multistandard was founded in 1963 in New York to import metric fasteners. Web: metricmcc.com Jake Davis started in the fastener industry in 1996 in inside sales for ISSCO Inc., which was founded in 1974 by his parents, Joe and Margaret Davis. He moved on to purchasing and when his mother passed away in 2000 became president. Distributor ISSCO acquired BTM Manufacturing in 2013. BTM was founded in 1961 as Belton Tool & Machine in 1961. Web: btm-mfg.com and ISSCOInc.com Tricia Dyer is a senior account executive for All America Threaded Products. She started in the fastener industry in 2010 as a receptionist for Stelfast’s Houston branch. All America, began in 1994 when parent company Acme Manufacturing of Denver acquired BoltMaster Inc. (RediBolt) of Chicago. Headquartered in Denver, All America manufactures threaded rod, studs, U-bolts and anchor bolts. Web: aatprod.com Panel moderator Baron Yarborough, director of sales for Spring Bolt & Nut Manufacturing, is third generation in the fastener industry. His grandfather and father were fastener machinists. He wanted avoid such a career and studied business management and started in sales for a data company. Houston-based Spring Bolt & Nut was formed in 2001 to manufacture bolts, nuts, studs, and machined components. Web: Springboltandnut.com GLOBALFASTENERNEWS.COM

FASTENER FAIR USA CLEVELAND, OH - APRIL 11-12, 2018 more photos on page 157

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