Dear Valued Customer,
The Covid-19 pandemic has upended ‘business as usual’ for organizations around the world. At Fastenal, our job is to help you navigate this period of historic change by providing the best ideas and fastest execution of the new supply lines that are forming. Thank you for trusting us as a supply chain partner in transformative times, a source for innovation when you need it most.
Let’s recap our pandemic response to date. In mid-March, we made the decision to close the front doors of our branches, roughly 2,500 locations spanning 25 countries. The goal: protect the health of our local personnel and, in turn, provide a safe resource to deliver product and manage inventory at our customers’ facilities. In recent weeks we’ve re-opened our doors at around 900 branches, primarily in Covid-19 ‘cool spots,’ and we will evaluate additional re-openings based on local conditions. In the meantime, our teams will continue to follow health and safety best practices, to utilize proper PPE and observe sound safety practices while servicing customer sites, and to leverage our supply technology to keep critical products flowing with minimal contact. In short, we will honor the trust you place in us – to not only provide the products that keep you running, but to do so in ways that strive to keep everyone safe.
The initial wave of panic may have subsided, but inventory challenges remain across the PPE category and other high-demand products, such as janitorial supplies. We will continue to work with customers to fulfill back orders in the weeks ahead. We’ll also continue to prioritize critical industries and current customers (who rely on Fastenal to help keep their operations running). As part of this prioritization, our e-commerce platform may indicate that certain items are in limited supply or temporarily unavailable. If you are a current customer or part of a life-sustaining industry, I encourage you to reach out directly to your local Fastenal representative to discuss your product needs – they are ready to help.
As we all know, price is a function of supply and demand. For a sustained period, global demand has been historically high, global supply has been impacted by wide-ranging disruptions, and as a result, we are now seeing cost increases on many products. We’re working to minimize the impact, but please be aware of changing price conditions in the market.
This pandemic is shaping up to be less of a sprint and more of a marathon, with some pitfalls and setbacks along the way. At this point, I’m officially out of the prognostication business, but this much I do know: Fastenal is committed and prepared to serve as your supply chain partner as you work through the challenges ahead. Leverage our sourcing and distribution strength to avoid disruptions. Use our technology to operate more efficiently and to create social distancing in your operation. Please lean on us for expertise and ideas, including ideas to improve workplace safety as you ramp up operations, or to help with your daily challenges and concerns – we will dig deep to provide solutions.
In a time of social distance, we’re striving to be closer to your business than ever – more collaborative, more responsive, and more attuned to your priorities and changing needs. Thank you for giving us this trust and opportunity. We will work to earn it each and every day.
President & CEO, Fastenal