Q&A with Manny Bonomo, CEO of Diamond Fasteners
Diamond Fasteners is a well-known distributor of fasteners and provider of consulting solutions for mission-critical manufacturers in the aerospace and defense industries. We asked CEO Manny Bonomo how the company continues to provide value to its clients and how the company has evolved after being around for 44 years.
CEO Manny Bonomo
“We like to work with clients who subscribe to a simple yet powerful idea. We believe that successful businesses of the future will focus all their energy on providing value to their clients by focusing on their core competencies and outsourcing the rest.”
In addition to supplying a wide array of fastener products, can you tell us about your consulting services and how they help your clients?
Absolutely. Our goal is to help our clients increase the operational efficiency in their organization. Our consulting process, and the discovery phase in particular, is designed to obtain an overarching view of production at multiple levels in their organization.
Whether the goal is reducing man hours or cost, or achieving greater efficiency, our experts pay close attention to what success really means for our clients and what the roadblocks are that currently prevent them from achieving those goals.
Following on from our discovery, we create a strategy which we subsequently implement, in partnership with the client. This ensures long-lasting, productive relationships and lasting improvements.
There are a number of inventory management systems available, such as bin stocking. Which type of solutions do you work with and how do you help clients implement such systems?
There are many ways to run a manufacturing facility and so our approach is to create custom solutions based on our client’s requirements. For example, several of our clients employ more than one inventory management strategy, based on the needs of a specific manufacturing area. As a results we have clients who use both bin stocking and kitting in the same facility.
This is because one manufacturing area in that facility will produce a large volume of repetitive items, where a bin stocking system is most effective, whereas the final assembly in that facility is configured to meet their own clients’ unique requirements. And so in the latter, final production area, we will provide unique kits to allow the client to do just that.
We also work with clients who use our inventory management services as an extension of their stock room. In these ‘outsourcing’ scenarios we create programs that allow the user direct access to the products we supply. They can easily order the products online via our online order system, we deliver in package sizes that are convenient for the assembly personnel and we report the usage to the client for billing and tracking purposes.
Diamond Fasteners works with many clients in the aerospace and defense industries. Do you work with clients in other industries?
We have worked in the aerospace and defense industries for a very long time and have long-established relationships with our clients in those markets. Over the last couple of years, due to market demand, we have started working with clients in the electrical engineering and manufacturing domain.
Can you share with us who your ideal client is? In other words, what are the problems a company may be facing that your team of experts is trained to resolve?
We like to work with clients who subscribe to a simple yet powerful idea. We believe that successful businesses of the future will focus all their energy on providing value to their clients by focusing on their core competencies and outsourcing the rest.
The feedback we receive from such clients is that they get huge value from our services. Working with our inventory management services reduces operational pressure in their businesses which is highly measurable. Additionally, our services are not designed to reduce our clients’ workforce. They are designed to allow our clients to redirect employees towards higher value roles.
Clients who understand this premise and see the value in long-term relationships with companies they outsource to tend to be leaner, more efficient and thus more successful. Ultimately, we see with our clients that the results of collaborating with us are improved speed to market, higher quality products and increased employee engagement.