October 2013

MDM Interview: Fastenal’s Vending Evolution

Companies, Fasteners, Strategy, Subscriber Only, Top Distributor Sectors / Angela Poulson

Fastenal is largely credited with driving the latest boom in industrial vending services among distributors. Fastenal had nearly 30,000 vending machines installed as of the end of the second quarter 2013, and while it recently backed off on its goal of 30,000 new vending machines this year, it continues to expand its program, called FAST Solutions, at a quick clip. Fastenal’s vending program has grown much faster than the competition’s.

This article is part of MDM’s series on the industrial vending market.

Staff Writer Angela Poulson spoke with Fastenal CEO Will Oberton about:

The impetus for Fastenal’s vending program
Why Fastenal backed off its aggressive goal for 2013
What's next for Fastenal's vending program

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Industrial Vending: A Runway for Growth
Distributors Get Smarter About Vending
The Counterfeit Challenge

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Commentary: Channel Partnerships – Where’s the Trust?

Management, Strategy, Subscriber Only / Lindsay Konzak

The industry often talks about the importance of partnerships in the channel. But there's a lot of room for growth.

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What Does Partnership Really Mean?
The 'New' Distribution Company
Bridging the Value Gap

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Building on Already Profitable Business

Management, Sales & Marketing, Strategy, Subscriber Only / Angela Poulson

In his book Islands of Profit in a Sea of Red Ink, MIT Senior Lecturer Jonathan Byrnes says that most of a distributor’s customers are unprofitable while a few are so profitable that they more than subsidize those losses. In the recent MDM Webcast, How to Secure and Grow Your Islands of Profit Customers, Byrnes shares new tips for identifying and growing business with your most profitable customers and replicating that success with new customers.

This article includes:

A look at how profitability has changed in distribution
What is negatively impacting profitability in today's market
How to identify & overcome the challenges to profitability

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Don't Be Everything to Everyone
5 Building Blocks for Managing Profit
Four Barriers to Distributor Profitability

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Download this Issue in PDF: Oct. 10, 2013

Full Issue PDF, Subscriber Only / MDM Staff

This is the PDF of this issue of Modern Distribution Management.

Table of Contents:

MDM Interview: Fastenal’s Vending Evolution – part of The Industrial Vending Boom Special Report
Industrial Vending’s Growing Pains – part of The Industrial Vending Boom Special Report
Commentary: Channel Partnerships – Where’s the Trust?
Building on Already Profitable Business
News Digest

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MDM News Digest 4319

Subscriber Only / MDM Staff

News briefs from Sept. 26 – Oct. 10, 2013.

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MDM News Digest 4319 Read More »

Industrial Vending’s Growing Pains

Research & Analytics, Strategy, Subscriber Only / Jenel Stelton-Holtmeier

Distributors are now driving record growth in industrial vending adoption among end-users. Even though vending has been around for a couple of decades in the industrial space, many say it still has a huge runway for growth. But as with any trend in its “infancy,” distributors looking to expand their vending services are faced with challenges, from initial investment to profitability to getting up-to-speed quickly on all available options to effectively respond to customer demands. This article examines key challenges identified by distributors and provides best practices for addressing them.

This article is part of MDM’s series on the industrial vending market.

This article includes: