WEST SPRINGFIELD, MA – Atlantic Fasteners Aerospace, a rapidly growing division of Atlantic Fasteners, has been awarded a contract for barcode-based vendor managed inventory (VMI) services by a Chicago-area aerospace subcontractor.
The two-year renewable contract calls for the initial management of 420 aircraft parts valued at $180,000 per year. More parts are slated to be added later.
Continuing Trend Toward VMI
As a supplier serving commercial, aerospace and military markets, Atlantic Fasteners has provided barcode-based VMI services for more than 20 years. Today, 48% of its top customers use these services, said Tony Peterson, president. However, the motivations for aerospace customers differ from those in the commercial segment, he noted.
“Our commercial customers value VMI most for its contribution to Lean Manufacturing,” said Peterson, “whereas our aerospace customers put the highest priority on keeping up with fast production. It makes no sense at all for a large aerospace contractor to be held up waiting for $10 fastener items.” In addition, he said, VMI services help manufacturers avoid using valuable staff time to manage commodities.
“VMI assignments illustrate the trust our customers put in our ability to help them expedite production,” he said.
In 2009, Lockheed Martin’s Electronic Systems division presented Atlantic with its STAR Supplier award, based on stringent quality, delivery and other business requirements. Fewer than 1% of the division’s vendors earned the award.
Having grown substantially since its 2004 inception, Atlantic Fasteners Aerospace relocated to a larger facility in March. It’s currently designing a new website to be launched by year-end.
Atlantic Fasteners holds AS9120 certification and ISO 9001:2008 registration and has been pre-qualified to serve industry leaders such as Raytheon Missile Systems, General Dynamics, Northrop Grumman, and Lockheed Martin. Atlantic maintains a higher-than-average DLA score for CAGE Code 1QYC9. For example, its 96.4% score in July compared to the average vendor score of 91.2%.
For more information on barcode-based VMI services, contact Tony Peterson at email@example.com or call 800-800-BOLT (2658), ext. 108.