Company Overview: Fastenal Canada Ltd
Executive Summary
The comprehensive document is an overview of Fastenal Canada LTD and how it relates to sales management.
The document first provides an introduction to the problem and company background of Fastenal, which includes a description of various views of Fastenal. It further goes into detail about the recommendations that relates to the two main parties involved, which are the customers and the company itself.
The document also includes an in-depth implementation plan, which is broken down into short, medium, and long-term tasks to accomplish. Through out the document there is a mention of the vendor managed inventory model (VMI). By using VMI, we were able to use a different approach to avoid risks associated with the “bricks and mortar” approach. Fastenal should choose to implement the following business plan because a well thought out analysis went into determining the problem and coming up with a solution for the future growth of the company. All decisions were made with the company in mind and focusing on the strong relationship between the costumer and Fastenal.
Introduction
Fastenal Canada LTD is a subsidiary of Fastenal Company, which was founded in 1967. Fastenal Canada LTD operates as a wholesaler and retailer of industrial and construction supplies in Canada. They have over 200 stores across Canada, 66 of which are in the western region. Fastenal’s growth strategy has always relied heavily on new store opening because the high demand for its products and services across Canada (Fastenal, 2012).
It tends to be risky as well as costly when opening stores using the “bricks and mortar” approach. The introduction of the vendor managed inventory model (VMI) has been advantageous. Fastenal receives an electronic data via email, informing them of its distributor sales and inventory stock level. This system makes it fast and efficient for the customers and sales associates. Fastenal interprets the electronic data and there is
The comprehensive document is an overview of Fastenal Canada LTD and how it relates to sales management.
The document first provides an introduction to the problem and company background of Fastenal, which includes a description of various views of Fastenal. It further goes into detail about the recommendations that relates to the two main parties involved, which are the customers and the company itself.
The document also includes an in-depth implementation plan, which is broken down into short, medium, and long-term tasks to accomplish. Through out the document there is a mention of the vendor managed inventory model (VMI). By using VMI, we were able to use a different approach to avoid risks associated with the “bricks and mortar” approach. Fastenal should choose to implement the following business plan because a well thought out analysis went into determining the problem and coming up with a solution for the future growth of the company. All decisions were made with the company in mind and focusing on the strong relationship between the costumer and Fastenal.
Introduction
Fastenal Canada LTD is a subsidiary of Fastenal Company, which was founded in 1967. Fastenal Canada LTD operates as a wholesaler and retailer of industrial and construction supplies in Canada. They have over 200 stores across Canada, 66 of which are in the western region. Fastenal’s growth strategy has always relied heavily on new store opening because the high demand for its products and services across Canada (Fastenal, 2012).
It tends to be risky as well as costly when opening stores using the “bricks and mortar” approach. The introduction of the vendor managed inventory model (VMI) has been advantageous. Fastenal receives an electronic data via email, informing them of its distributor sales and inventory stock level. This system makes it fast and efficient for the customers and sales associates. Fastenal interprets the electronic data and there is