CLEVELAND — Nov 22, 2011 — Corporate United, the nation’s leading group purchasing organization, announces that it has entered into a new 4-year agreement with Fastenal Company for industrial supplies. Corporate United's decision to build on its existing relationship with Fastenal was based upon several factors including, positive feedback from its members, market data benchmarking contract competitiveness and Fastenal's market leading solutions to deliver total cost reductions.
Corporate United’s Fastenal agreement includes the following features and benefits:
- Defined core list of products based upon member usage
- Competitive non-core list pricing
- Improved Corporate United group rebate incentive
- No shipping charges
- Pre-determined continuous improvement requirements
- Greater visibility into alternate items
Additional Agreement Benefits for Members
Corporate United coordinates the implementation process between the members and Fastenal to ensure pricing, adherence to terms and conditions, service level accuracy and savings. In addition, Corporate United works with Fastenal to conduct business reviews, deliver customized reports, drive continuous improvements and facilitate productive communication between all parties.
“We are confident that our decision to move forward with Fastenal is the right choice for our members,” says Corporate United president, Marc Rosen. “The agreement enhancements, combined with significant growth in annual spend through this contract, point to a positive relationship that will continue to drive value for all participants.”
About Corporate United
Corporate United is a member-based organization whose mission is to advance the collective spend management efforts of its member companies; it achieves this by combining access to market-leading leveraged agreements and the application of category lifecycle management (CLM). Through its CLM process, Corporate United handles the ongoing management of the contracts and suppliers across its more than 25 pre-negotiated indirect agreements.
Corporate United is comprised of more than 175 member companies, spanning every industry sector and representing over $50 billion in aggregated spend. Founded in 1997, Corporate United is headquartered in Cleveland, Ohio. For more information, contact us at 440.895.0938 or visit www.corporateunited.com.
About Fastenal Company
Fastenal is North America’s largest fastener distributor and an efficient source for a vast range of industrial and construction supplies. Supported by 14 regional distribution centers and an internal logistics fleet, Fastenal’s 2,500+ stores offer personal service and tailored inventory to anticipate local market needs. Customers benefit from local deliveries, regular service calls, hands-on inventory management, and fast, responsive service. Fastenal supports its product offering with a lineup of services and solutions, including Fastenal automated supply technology (vending), custom manufacturing, engineering support, and various industrial services.