Fasteners are typically the black sheep of a product bill of materials. They are the last consideration for a new design, a small percentage of the overall spend, and a commoditized nuisance that can be supplied by anyone. They consume an inordinate amount of time to procure and move throughout a production facility, and can shut down your line in a split second.
The decision on where to buy from may seem trivial considering the commoditized nature of fasteners, but the capabilities and approach your fastening partner uses impacts all facets of your organization, from design and manufacturing to quality and on-time delivery. Industry surveys have shown that only 20% of the total cost is in the fastener; the remaining 80% is in fastening (assembly, procurement, scrap/rework, etc.).
The following Field Guide was put together in order to offer a roadmap of things to consider when going through the critical selection process of finding a fastening partner.
Among other elements, you’ll lean:
- The six most important criteria to consider when vetting fastening partners.
- The difference between PPP and PPI, and why it matters.
- Industry-wide best practices for VMI and value-added engineering processes.
- Proven strategies for improving everything from your global supply chain management to your eventual transition.