The scale of operation of the company is large and it has enhanced scope. It has essentially convinced companies of their cost saving strategies and offers unique products for sales. They sell different products from the same company rather than different corporations. This helps the company to save money. They offer 15 kinds of product lines and offer corporations with custom services . Each buyer can procure different kinds of deals based on their requirement and the company allows bundling of these features. They also aggregate a number of orders in order to cut costs and offer differential benefits. These are some of the successful factors of the company services that is offers. However, they need to ensure a stronger retention policy.
They need to ensure that they service them and make the companies feel like that they are partners to Fastenal. Management of services does not stop with providing services to the consumers, and they need to ensure that there is smooth liaisons and effective communication between the stakeholders of the company.
Communication is integral between all the stakeholders of a company. In the case of Fastenal, it is a very large enterprise that has many layers of hierarchical control. Owing to this, the general contention is that the company maintains an outward persona of uniqueness, but there should be effective communication between the stakeholders. The business is largely focused on serving the buyers rather than understanding all the stakeholders involved. The company does pay its employees well, but the general contention is that there should be more inputs taken from the employees to improve services and deliveries (Hutt and Speh, 2012).
Another issue of this company is that there is a blanketed approach of pushing the employees to reach a particular objective, but there should be much more avenue to voice opinions and address stakeholder concerns. Industry analysts state that within the company there should be more training and innovative marketing strategies developed to reach out the consumers (Manrique and Manrique, 2015). They should calculate the Return of Investments based on the tangibles sales figures and also the intrinsic factors such as employee satisfaction. This would help the company develop a holistic marketing communication. This lack of marketing communication has led to a certain degree of stifling innovation within the company.
To improve the service marketing and communication, there should be enhanced employee action and this needs to be addressed by the company to sustain in the future. Recommendations for the improvement of services of the company has been divulged in detail in the following.