Fast Company Analysis

Fastenal Company was founded in 1967 in Winona, Minnesota by Bob Kierlin. During the number 1 calendar month of business, Mr. Kierlin only managed to make $157 in gross sales. Despite the slow start, Mr. Kierlin k modern what he wanted to do to make Fastenal successful, and that was to provide the variant of service that keeps customers coming back. This is when Growth finished Customer Service was invented. Since then, Growth finished Customer Service has been the mission of Fastenal.Fastenal is an industrial supply company and since 1967, 2,500 salt aways have candid across 50 states, Canada, Mexico, the Dominican Republic, Puerto Rico, Netherlands, Europe, China, and Singapore. severally store utilizes local memorandum, outside sales ply, and on-site delivery vehicles to help only the customers time and money. Fastenal to a fault owns and operates 16 distribution Centers with a fleet of over clxxx semi-trucks and trailers. Fastenals organization structure allows a cu stomer to receive a fully-customized ploughshare hand delivered by an employee within third days.Fastenals main lineage is fasteners comparable screw, nuts, washers, and threaded rod. Fastenal has over 700,000 individual inventory items that range from power tools to tape to janitorial supplies. Fastenals target market is mainly center on companies that consistently need to procure parts for the jobs they need to complete regularly. Fastenal blush has vending machines stocked with custom inventory to provide companies in need of rile to certain parts without having to come into the store each time.Vending machines are searing to the business strategy of Fastenal the machines provide polished customer service and convenience without an employee having to be present. It ensures that the companies with the vending machine will infinitely and consistently purchase harvests. Fastenals marketing plan relies on monthly product deals that are distributed to every account propri etor each month. Outside sales staff and managers will deliver the catalogs each month. Fastenal also has an online presence, companies have the ability to go online and send off an order template for quick and lucky purchasing.Fastenal currently sponsors Carl Edwards from NASCAR, Americas nearly viewed sport, as an additional source of marketing. In May 2011, Fastenal made over 200,000 sales, 29% more than 2010. Fastenal opened nine new stores this month and 57 this year-to-date. Fastenal has also leased 2,000 more employees compared to 2010. Performance of the company varies from month to month because the winter months of the year typically have less construction occurring which results in a smaller demand of what Fastenal offers.