Fastenal focuses on building its vending program

01/29/2013 | Modern Distribution Management

Fastenal plans to add 30,000 vending machines by year's end, which would be a nearly 50% increase on year-end 2012 numbers. A new warehouse will complement this effort. "One is we'll reduce our labor. It's a far more efficient process," CEO Willard Oberton said. "Two is we believe if we do this for the store, they will not need to stock the inventories to improve our inventory turns. And the third is that we believe we'll be able to improve our margins because we'll buy such tremendous volume into one location."

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