Evaluating Costs the Easy Way
Fastener procurementfor your own business or the company you work for seems so simple. You use a search engine to find a fastener procurement service or supplier, and pop in the numbers for a quick NSN fastener search. You see who has what, fill out an RFQ and sit back and wait for the results.
If you request several quotes, you then have to compare then. It isn’t just the price of the items you have to consider, either. You have to look carefully at their minimum order amount, either in quantity or dollars.
Next you’ve got to consider shipping costs. Exactly how much does shipping 10,000 fasteners cost? Maybe the supplier with the lowest cost on the fasteners will charge so much for shipping, they’re no longer the lowest cost supplier. How can you manage all this? Wasn’t this supposed to be simple?
If you work for a large or even a small company, you may be supplied with purchasing software that does the math for you and determines the best buy automatically. But if you don’t have any purchasing software, you can manage things yourself pretty easily with an Excel spreadsheet. It will be more than worth the time and effort it takes to set one up.
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