The fastener distributor is also seeing fulfillment and inventory rates improve.
What happened
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Why it matters
With global supply chains improving, Fastenal has been able to lower its on-hand inventory compared to a year ago, taking approximately three weeks' worth of inventory out of its network, Florness told investors.
"We believe technology investments and structural shifts in our go-to market approach has improved our business' long-term operating leverage and asset intensity," the company said in its Q2 earnings presentation.
Fastenal has spent the past year pushing its digital sales operations, including its e-commerce, inventory management services and other tech solutions. The strategy has included using data to improve its fulfillment efficiency and supply chain visibility.
This news brief is based on reporting published by Supply Chain Dive on 2023-04-21. The original report is linked below.
Supply Chain Dive
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