Case study 1 - Fastenal company - Q2 by NHI HUỲNH NGỌC XUÂN https://padlet.com/nhihuynh31221023788/Question2 Post your questions below en-us 2024-01-19 17:22:05 UTC 2024-01-24 01:37:21 UTC hello@padlet.com https://padlet.net/icons/png/2753.png 2. Does Fastenal have any competitive advantage over Amazon Business that could help protect Fastenal's business against Amazon in the near future? nhihuynh31221023788 https://padlet.com/nhihuynh31221023788/Question2/wish/2854958873 2024-01-19 17:22:35 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2854958873 Mai The capital needed to compete with Fastenal distribution network was too high and served as a barrier of entry for smaller competitors.An advantage that Fastenal has over Amazon business is that Fastenal still has a lot of brick and mortar stores unlike Amazon and can service people who aren't too fond of online Shopping https://padlet.com/nhihuynh31221023788/Question2/wish/2855215215 2024-01-20 00:45:35 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855215215 Minh: fastenal still have their pricing to compete https://padlet.com/nhihuynh31221023788/Question2/wish/2855215366 2024-01-20 00:46:02 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855215366 Độ: Yes, fastenal still have brick and mortar stores, so they have advantage in serving offline customer hnxuannhi https://padlet.com/nhihuynh31221023788/Question2/wish/2855215567 2024-01-20 00:46:47 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855215567 VAnh: Fastenal have competitive advantages: they are trained specific skills for the industry. this could be a big chance for them to get an overweight. https://padlet.com/nhihuynh31221023788/Question2/wish/2855215670 2024-01-20 00:47:11 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855215670 Đạt: Have offline stores that can serve people dont like online services. hnxuannhi https://padlet.com/nhihuynh31221023788/Question2/wish/2855215785 2024-01-20 00:47:33 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855215785 Ngọc - Fastenal still have offline stores that can service people who don’t like online service https://padlet.com/nhihuynh31221023788/Question2/wish/2855216161 2024-01-20 00:49:04 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855216161 Yes, Fastenal Company has developed a competitive advantage by building strong relationships with its customers. (Ngân) https://padlet.com/nhihuynh31221023788/Question2/wish/2855216534 2024-01-20 00:50:06 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855216534 Thư: Fastenal's competitive advantage over Amazon Business includes its established presence in the industrial supply sector, a strong focus on customer service, a large number of physical stores close to distribution centers, and its unique technology. https://padlet.com/nhihuynh31221023788/Question2/wish/2855216642 2024-01-20 00:50:33 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855216642 Trà: they focus on lower the cost to build relationship with customer https://padlet.com/nhihuynh31221023788/Question2/wish/2855216664 2024-01-20 00:50:37 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855216664 Fastenal follows a bottom-up management approach, prioritizing employee training Their customer-centric approach focused on cost savings, customized stocking, andespecially building trusted relationships (Hien) https://padlet.com/nhihuynh31221023788/Question2/wish/2855217734 2024-01-20 00:54:30 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855217734 Fastenal's extensive expertise in industrial vending machines since 2008, translates to a clear advantage over Amazon Business in supply cost savings. - Bao Chau https://padlet.com/nhihuynh31221023788/Question2/wish/2855217891 2024-01-20 00:54:59 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855217891 Minh Đăng: this can help quickly adapt to the market and quickly address customers requirements.This focus can create an exclusion for important customers https://padlet.com/nhihuynh31221023788/Question2/wish/2855218546 2024-01-20 00:57:29 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855218546 Klinh - Fastenal's deep industry knowledge and specialization in industrial supplies, coupled with a focus on personalized customer service, can serve as a competitive advantage. Additionally, the company's well-established distribution network and expertise in managing inventory for industrial clients may provide a level of service that is challenging for broader platforms like Amazon Business to replicate. https://padlet.com/nhihuynh31221023788/Question2/wish/2855218599 2024-01-20 00:57:45 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855218599 Hồ Lê Anh Duy - They have some advantages namely they are a specialized product provider meaning their product in general is of better quality than the generalized business model of Amazon. Also the company appeals to a more local audience who values the convenience and quick time of going to the store and buying the product themselves https://padlet.com/nhihuynh31221023788/Question2/wish/2855218883 2024-01-20 00:58:31 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855218883 Võ Phương Anh: Fastenal's potential competitive advantages over Amazon Business might be its established presence in the industrial supply sector, a specialized product range and a strong customer relationship. Fastenal's extensive network of local branches and on-site services could also differentiate it by offering personalized support. https://padlet.com/nhihuynh31221023788/Question2/wish/2855219209 2024-01-20 00:59:47 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219209 More offline stores for customers who do not like online shops or people who just loved offline shops(T.Ngân) https://padlet.com/nhihuynh31221023788/Question2/wish/2855219210 2024-01-20 00:59:47 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219210 They produce high quality fasteners and other mechanics bits. They have a huge initial competitive advantage in their industry/market compared to Amazon. They also have big financial resource to carry out strategic reformation against the new and innovative solutions that Amazon brought to the market (Hạnh) https://padlet.com/nhihuynh31221023788/Question2/wish/2855219398 2024-01-20 01:00:36 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219398 Mai Linh Chi: They are more convenient than Amazon because they have retail stores, so some people who like to buy something immediately can come to the store and purchase for the products. Amazon, on the other hand, only has online platform, so every transaction must be happening on the internet. This might be a huge drawback, because some people might not know how to use the internet (like the elderly or something) https://padlet.com/nhihuynh31221023788/Question2/wish/2855219412 2024-01-20 01:00:41 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219412 (Quang Huy) Fastenal could take advantage of selling products with lower price, utilize CRM to build customer relationship, invest in technology, improve supply line logistics, stay updated to trends. https://padlet.com/nhihuynh31221023788/Question2/wish/2855219451 2024-01-20 01:00:50 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219451 Trần Hữu Minh Tâm: Fastenal can develop both online and offline platforms to serve the purchases of customers. Also, Fastenal can elaborate on its self-named product to create marketing efficiency. https://padlet.com/nhihuynh31221023788/Question2/wish/2855219476 2024-01-20 01:01:02 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855219476 Phạm Hồng Hiển - 31221021708: Fasstenal has vertical integration of its supply chain. The company owns manufacturing facilities that help to compete effectively with other companies. https://padlet.com/nhihuynh31221023788/Question2/wish/2855220730 2024-01-20 01:05:37 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855220730 Thinh - 31221024445. Yes, because fastenal does possess certain competitive advantages that could help protect its business against Amazon in the near future. Some key advantages: Strong customer relationship, local presence and service capabilities, specialization and expertise. https://padlet.com/nhihuynh31221023788/Question2/wish/2855221350 2024-01-20 01:07:47 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855221350 Pa & Nga, yes because it owns a larger amount of brick-and-mortar offline stores than that figure for Amazon. https://padlet.com/nhihuynh31221023788/Question2/wish/2855221410 2024-01-20 01:08:01 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855221410 Dinh Ngoc Ha The fastenal has advantages like their unique characteristics, more offline stores. https://padlet.com/nhihuynh31221023788/Question2/wish/2855221482 2024-01-20 01:08:04 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855221482 Đào Ngọc Hưng (31221021462) - Yes, Fastenal has skillful, talented and loyal employees; customer - centric approach; local presence. https://padlet.com/nhihuynh31221023788/Question2/wish/2855221760 2024-01-20 01:09:08 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855221760 Fastenal and Amazon Business operate in different segments of the market, and while there may be some areas where Fastenal has a competitive advantage over Amazon, it's important to note that Amazon is a highly formidable competitor with significant resources and capabilities. Phạm Đoàn Việt Hoàng 31221025073 https://padlet.com/nhihuynh31221023788/Question2/wish/2855221802 2024-01-20 01:09:16 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855221802 nguyenphuocanh250404 https://padlet.com/nhihuynh31221023788/Question2/wish/2855222078 Nguyễn Phước Anh-31221020535
Fastenal has automated supply technology. Their inventory management ensured fast lead time s, zero stock out and 24/7 custom manufacturing, catering to industrial customer emergency and regular needs through a convenient system. They also has school for employee to train industry specific skills. They introduced vending machine in 2008.]]> 2024-01-20 01:10:22 UTC https://padlet.com/nhihuynh31221023788/Question2/wish/2855222078