154: Not Just Nuts and Bolts - Innovation At Work

This is the first episode of our latest mini-series in partnership with Fastenal. Over the next four episodes, our "Not Just Nuts and Bolts" series is going to take a closer look at Fastenal, their global reach and the many different ways they serve the industry; their resilience and innovation in response to the COVID-19 crisis, and why they're putting a focus on the importance of data in bettering supply chains. Today in Episode 1, Innovation at Work, I'm talking to Dan Florness, President and CEO at Fastenal. We'll be finding out exactly who Fastenal is, what they do and how they've evolved to become a global company, with a local focus, who are much more than just nuts and bolts. IN THIS EPISODE WE DISCUSS: [01.26] Dan's background, his role at Fastenal and how Fastenal is both a provider and its own customer. "Our secret ingredient is agility and problem-solving."  [4.14] Fastenal's history and growth. [06.18] What Fastenal stands for. "We go out and find great people – we're about opportunity, freedom to operate and mutual trust." [08.13] Exactly what Fastenal does, and its different business areas. [10.15] How and why Fastenal came to manage supply chains for their customers. [14.14] How Fastenal was ahead of the game when it comes to the issue of stock. [16.21] The benefits that come from Fastenal's decentralized model. "A local team knows their customer really well." [19.12] A closer look at Fastenal's local approach: how it works, the ethos behind it and the benefits. [21.49] How Fastenal responded to the COVID crisis, and its commitment to customers. [28.30] From Government to Universities, the variety of businesses Fastenal works with. "The ideal customer for us is someone who's willing to look at the ideas we bring to the table, and change the way they've been doing things." [32.07] How visibility and partnerships are the future of supply chain.   RESOURCES AND LINKS MENTIONED: Head over to Fastenal's website now to find out more and discover how they could help you too. Check out our other podcasts HERE.