Business Policy

In: Business and Management

Submitted By lssn
Words 5295
Pages 22
Luisa Sanchez
Group 5

Luisa Sanchez
Group 5

Contents Executive Summary 3 Background 4 Strategy 5 SWOT ANALYSIS 6 Strengths 6 Weakness 8 Opportunities 8 Threats 10 Problems 11 Strategic Alternatives 13 Bibliography 19 Appendix 1 19 Appendix 2 20 Appendix 3 21

Executive Summary

Fastenal has more than 2,600 stores with more than 10,000 employees working under them. The stores are all over the United State, Canada, Mexico, Central and South America, Europe and Asia. They have local distribution centers to serve their entire local stores worldwide.

The company has invested in things that make a difference for their customers, continuously improving a many-sided service network, which includes a strict quality management system by their engineering teams, and testing laboratories around the world. The company also introduced industrial vending machines, which has become widely used industrial vending system in the world. Fastenal also has manufacturing divisions in North America, where they can custom engineer parts to customer specifications.

A downturn in the economy and other factors may affect customer spending, which could harm their operating results. A downturn in either the national or the local economy where the stores operate could negatively affect sales at their stores and their level of profitability. Due to these factors, Fastenal has been adjusting their strategy as they go a long to be the number one supplier in manufacture supplies.

The company selects new locations their stores based on their proximity to the distribution network, population statistics, and employment data for manufacturing and construction.


Bob Kierlin founded Fastenal in 1967. When Kierlin was a young boy, he used to help his father in his shop. Kierlin observed that customers had to…...

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