MDM Special Report: The Industrial Vending Boom
Pages: 17 (PDF Report)
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This report provides an in-depth look at the current state of the industrial vending market. It examines the size of the existing market, where opportunity exists and challenges to success with vending programs.
This report also includes an exclusive interview with Fastenal's CEO on how the company has approached the market and helped spark the current boom and four case studies with other distributors involved in this market.
Articles in this report include:
Industrial Vending: 'A Runway for Growth'
Distributors are helping to drive increased adoption of industrial vending in recent years. The Fastenal Company, Winona, MN, is largely credited with sparking the growth, but many of the largest distributors – and several smaller ones – have introduced their own vending solutions for customers. This article looks at the current state of industrial vending, drivers of growth and where industry experts and distributors expect vending to go. This article includes an estimated size of the vending market by number of machines.
Industrial Vending's Growing Pains
As with any trend in its “infancy,” distributors looking to expand their vending services are faced with challenges, from initial investment to profitability to getting up-to-speed quickly on all available options to effectively respond to customer demands. This article examines key challenges identifi ed by distributors and provides best practices for addressing them.
MDM Interview: Fastenal's Vending Evolution
Fastenal is largely credited with driving the latest boom in industrial vending services among distributors. Fastenal had nearly 30,000 vending machines installed as of the end of the second quarter 2013, and while it recently backed off on its goal of 30,000 new vending machines this year, it continues to expand its program, called FAST Solutions, at a quick clip. Fastenal’s vending program has grown much faster than the competition’s. MDM spoke with Fastenal CEO Will Oberton about Fastenal’s vending program, where it stands now and where it’s headed.
SnapVend Aims to Even the Playing Field
Vending machine and software suppliers have responded to the demand for a lower-cost option to help distributors serve smaller customers profitably. One of these companies, SnapVend, was developed by safety supplies distributor Mallory Safety & Supply working with VendNovation to integrate its cloud-based technology. Marketing group Affiliated Distributors recently adopted SnapVend as one of its preferred vending suppliers. This article looks at the place of SnapVend in the market, and how distributors are using the vending solution as one part of a total inventory management service offering.
Vending Case Studies:
- Machine Tools Supply - Understanding Customer Needs Critical
- Deco Tool Supply - Documenting Vending's Value to Customers
- Stauffer Glove & Safety - Honing Vending Approach