161: Not Just Nuts and Bolts - Wait! Don't Order!

This is the fourth and final show in our "Not Just Nuts and Bolts" series, in partnership with Fastenal. Last week in Episode 3, 'Powered by Proximity,' I was joined by Sam Nafe, Senior VP for National Account Sales Teams at Fastenal, and Jim DeMarco, Category Manager at PGT Innovations. We talked about their successful business partnership and the topic of glocality – what it means, why it's so important and exactly how Fastenal deliver it across the world. Today in Episode 4, 'Wait! Don't Order,' we're talking to John Soderberg, EVP of IT at Fastenal, to talk about data and analytics: why is data so important, what kinds of data should we be focusing on and how can we use it to better our supply chains. IN THIS EPISODE WE DISCUSS: [01.04] John's long-standing career at Fastenal, his current role and how Fastenal truly has a decentralized model. [03.00] Why data is so important. "It's the basis for making better informed decisions." [04.49] The types of data that supply chain professionals should be looking at right now. "The data we should be looking at needs to support the areas we want to improve: it needs to be measurable and we need to know where we want to take it." [06.44] The importance of collaboration, between both departments and businesses, in understanding and using data. [08.57] Collecting data at a site-level, and the difficulty in keeping the consistency and discipline as you take that up to a higher level. "If there's not an emphasis on quality in the capture, then a lot of the plans are in vain. [12.22] The challenges of data at an enterprise level. [14.32] How to make data actionable. [17.26] Why it's so important to have a trusted partner to help you manage data and create a strategy around it. "The value of the data is dependent on that partnership and how you work together through it." [18.57] What utilizing data can look like in real terms to customers, especially when it comes to managing stock. [21.51] Why a greater understanding of data and analytics is what's going to define the next generation of supply chain professionals. [24.16] The future, and why Fastenal plan on getting even closer to their customers. 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.